Transnet projects to create 300 000 jobs

Monday, March 1, 2010

Cape Town - Infrastructure investments by transport parastatal Transnet are expected to create over 300 000 jobs and boost economic growth in four provinces in the country, says Transport Minister S'bu Ndebele.

Briefing the media on Monday on the work done by government's Infrastructure Development Cluster, Ndebele said the utility's projects would contribute to just over 4.8 percent of the country's GDP by 2018.

He said the R93.4 billion Transnet will spend on ports, rail and pipelines, will have the greatest impact in KwaZulu-Natal where it is expected to add 18 percent to the province's GDP and create 143 704 employment opportunities over the next eight years, said Ndebele.

In the Northern Cape, Transnet investments are expected to contribute 54 percent of the province's GDP and create 57 463 work opportunities by 2018, he said.

In Mpumalanga, the parastatal's projects would contribute 15 percent to that province's GDP and create 46 016 work opportunities, while in the Eastern Cape the projects would contribute 14 percent of the province's GDP and create 62 435 work opportunities.

Ndebele said more details on the impact of Transnet's projects would be revealed during the first quarter of the next financial year