South Africa’s state-owned rail company needs $669 million and five years to upgrade equipment to revive performance of its main export coal line, according to an internal report.
Coal shipments plunged to a more than three-decade low of 48 million tons last year because of inefficiencies at Transnet SOC Ltd., which blamed lack of locomotives and spare parts for its woes. The two other major factors limiting the amount of the fuel shipped to the coast for export are infrastructure faults and issues with signaling systems, according to a final executive summary report seen by Bloomberg.
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