S.Africa: Black and Chinese problems: Coal Exporters Asked to Pay Millions to Help Transnet Settle Chinese Dispute

(005875.811-:E-000062.43:N-AC:R-SU:C-30:V)   

[Wonderful. Things are falling apart here too. Nice! I like it. Transnet is the junk name that gave to what was created by Whites and was awesome: South African Railways. Jan]

Major coal exporters in South Africa have been asked to contribute hundreds of millions of rands to assist Transnet in resolving a logistics crisis stemming from a dispute with a Chinese locomotive supplier, China Railway Rolling Stock Corporation (CRRC), reports News24. Transnet is a state-owned rail, port and pipeline company. The requested total contribution from the coal industry is around R1.4 billion. This prepayment is intended to settle Transnet’s outstanding debt to CRRC and release locomotives that have been withheld. The dispute with CRRC is connected to allegations of corruption and state capture involving the Chinese company. Transnet’s rail performance has suffered due to a lack of spare parts, resulting in a significant decline in coal transportation capacity. Coal exporting sources told News24 that several mining companies had agreed in principle to help, but they have not yet been asked to actually transfer the funds.

Source: https://allafrica.com/stories/202310240037.html

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