Transnet announced an agreement to purchase 1064 locomotives

Transnet announced an agreement to purchase 599 electric and 465 diesel locomotives from four original equipment manufacturers, including General Electric. The guarantee is mainly intended for GE’s share of the locomotives – which is 233 locomotives as well as other acquisitions from the manufacturer.
South Africa’s transport operator, Transnet, has secured a R6 billion (EUR 422 million) funding guarantee with United States export credit agency, US-Exim for the funding of diesel locomotives the company is buying from General Electric (GE).
The projesct is part of Transnet’s locomotive fleet renewal programme – a key element of the company’s seven-year R312 billion (EUR 22 billion) investment programme – The Market Demand Strategy.

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