Transnet Chief Executive Officer Portia Derby says she is optimistic that the fortunes of the rail, port and pipeline company can be turned around.
State-owned freight and rail company, Transnet, has appointed Portia Derby as its new Group CEO.
The Commission of Inquiry into State Capture in Parktown, Johannesburg, has heard that Transnet’s general manager Mboniso Sigonyela instructed the company’s internal communications team to advertise in the now-defunct Gupta owned The New Age newspaper.
Experts are draining from the Transnet petroleum pipeline that exploded in Alberton on Gauteng’s East Rand on Tuesday morning.
Alister Chabi who is an Actuarial Scientist testifying at the state capture commission says the R15.9 billion increase of Transnet’s 1064 locomotives contract was unjustifiable.
Transnet Acting Chief Executive Officer Mohammed Mohamedy says the R22-billion investment that the company pledged at the second South Africa Investment Summit last week -is in line with key projects contained in the company’s corporate plans.
Transnet will on Thursday be launching the longest production train in the world at their depot in Saldanha Bay on the Cape West Coast.
Transnet has posted a nearly 25% increase in profit for the year ending on 31 March.
The chairperson of Transnet Dr. Popo Molefe says he’s waiting for those who have embarked on a smear campaign to discredit the on-going anti-corruption drive at the state-owned enterprise to put what they’ve been saying to the test.
Former Transnet Electrical Engineer Francis Callard is expected to continue with his testimony when the State Capture Inquiry resumes on Thursday morning in Johannesburg.