South Africa's Transnet National Port Authority (TNPA) plans to invest 9.1 billion rand (about US $0.566 billion) in various infrastructure facilities in the ports of East London, Port Elizabeth and Ngqura over the next seven years. Port Nelson Mandela, Port Elizabeth and Ngula will receive 4.8 billion rand (about $0.299 billion) of investment, while the Port of East London will receive the remaining 4.3 billion rand (about $0.268 billion). The first investment, about 0.57 billion rand, will be made in the 2022/2023 financial year.

TNPA's latest investment plan is aimed at realigning the South African Ports Operator Transnet, which is largely owned by the South African Public Enterprise Department, with other key economic sectors.

Siyabulela Mhlaluka, managing executive officer of TNPA Central, said in a statement: "We position Port Elizabeth as a car port, Port Ngula as a transshipment and energy hub in the southern hemisphere, and the Port of East London for the wider automotive industry in the region., Industrial and agricultural services." In addition, TNPA will also carry out the development of waterfront projects around the port of East London, in line with the port of East London tourism strategic positioning.

The first investment will be used to relocate the oil depot from Port Elizabeth to Port Ngula, to develop the first phase of the Manganese Export Terminal at Port Ngula, to investigate the feasibility of reconstructing East London Port Pier 3, and to build a slide in Port Elizabeth.

Source: Search Air Network