South Africa receives R250 billion Chinese plan for Transnet

South Africa’s Department of Public Enterprises said one of its officials received a proposal from China Communications Construction Company related to embattled state transport company Transnet.

The department issued the statement after Johannesburg-based news website Moneyweb reported that the Chinese company presented a R250 billion plan to Public Enterprises Minister Pravin Gordhan on how to address the nation’s energy and logistics crises.

“The presentation was not made to the minister,” DPE spokesman Ellis Mnyandu said in a statement on Wednesday.

“However, the department will obtain further information on the alleged proposal so that the matter can be considered, in accordance with appropriate regulations, by the Transnet board.”