Cromet Molepo, the acting group chief executive of the Passenger Rail Agency of SA (Prasa), allegedly disregarded advice from the Treasury and hired locomotives from a private company over the festive season...
Prasa trains in a state
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John Ashworth
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Prasa trains in a state
Prasa trains in a state
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Mel Turner
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Re: Prasa trains in a state
Interesting article
This para is enlightening
Swartz said Premifield charged far less than Transnet Freight Rail for the hire of their locomotives – “an hourly rate of just over R1 000, while Transnet Freight Rail charges R1 859 to R3 594 for similar locosâ€. Premifield is the BEE middleman superimposed between PRASA and Traxtion-Sheltam, and will be creaming a commission. Apparently it is not kosher for the ANC's apparatchiks and cadre to deal face to face with white capitalists.
So all TFR needs to do is half its headcount, sell Transnet Engineering to the private sector, and it may be in a position to offer competitive loco hire rates.
S&P's recent downgrading of SA Government debt to junk bond, has increased the cost of Transnet capital. The cost of the 1064 locomotives that TFR optimistically ordered has now become a couple of points more expensive. No wonder Transnet are backpedaling, and trying desperately to extend the delivery window out to 2024/5. Are there any betting men out there willing to put money on the 45 Class program reaching completion?
This para is enlightening
Swartz said Premifield charged far less than Transnet Freight Rail for the hire of their locomotives – “an hourly rate of just over R1 000, while Transnet Freight Rail charges R1 859 to R3 594 for similar locosâ€. Premifield is the BEE middleman superimposed between PRASA and Traxtion-Sheltam, and will be creaming a commission. Apparently it is not kosher for the ANC's apparatchiks and cadre to deal face to face with white capitalists.
So all TFR needs to do is half its headcount, sell Transnet Engineering to the private sector, and it may be in a position to offer competitive loco hire rates.
S&P's recent downgrading of SA Government debt to junk bond, has increased the cost of Transnet capital. The cost of the 1064 locomotives that TFR optimistically ordered has now become a couple of points more expensive. No wonder Transnet are backpedaling, and trying desperately to extend the delivery window out to 2024/5. Are there any betting men out there willing to put money on the 45 Class program reaching completion?