South African rail freight operator Transnet has received a R6 billion funding guarantee from US-Exim to finance a renewal of its locomotive fleet.
Transnet has placed orders for 599 electric and 465 diesel locomotives worth R312 billion. The United States export credit agency is financing the project to support GE’s share of the order – 233 locomotives.
Four different manufacturers will be supplying locomotives for the seven-year investment programme, including Bombardier which is building 240 TRAXX locomotives.
