Oct 9, 2011
JOHANNESBURG (Reuters) - A unit of state-owned freight company Transnet opened a line to transport magnetite for export, after disruptions caused by damage to a bridge, the company said in a statement late on Saturday.
The Brakspruit bridge in the country's Limpopo province was damaged last year. Transnet had measures in place to minimise the impact of disruptions and exports were not significantly affected.
Transnet Freight Rail opened the Phalaborwa-Hoedspruit railway on Saturday and is transporting at a yearly rate of 4 million tons.
"Transnet boasts a record of 1.9 million tons achieved in the first six months of the current financial year. This is 46 percent more than what was achieved during the same period last year," the company said.
Transnet said it has set a target of achieving 10 million tons in five years.
Transnet transports commodities such as coal and iron ore from mines to export terminals and sends fuel from coastal refineries to the inland market.
The company is investing billions of dollars to upgrade its rail and port infrastructure to boost capacity.
(sourced Reuters)
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