South Africa’s Transnet Plans $7.4 Billion Spend in Recovery Bid

South Africa’s state-owned ports and railway operator Transnet SOC Ltd. plans to invest nearly 130 billion rand ($7.4 billion) on infrastructure projects over the next five years as it presses ahead to improve performance.

The plan prioritizes the refurbishment of two major rail corridors, including a 861-kilometer (535 miles) long iron ore line from Sishen in the Northern Cape to Saldanha Bay on the western coast, Transnet Chairman Andile Sangqu said in an interview on Friday.