- State-owned freight logistics firm, Transnet, said on Tuesday that it had signed a cost-sharing agreement with the World Bank's International Finance Corporation (IFC) to conclude a feasibility study for the development of a liquified natural gas (LNG) storage and regasification terminal at the Port of Richards Bay, in the KwaZulu-Natal province.
- Transnet added that the aim is to facilitate private sector investment and partnerships with other state-owned companies for South Africa's natural gas infrastructure.
- Transnet has set a mandate to “provide freight logistics infrastructure for economic growth” since identifying the “industrial demand for natural gas and opportunities to leverage its ports, pipelines and rail assets to facilitate private investment in gas infrastructure for South Africa.”
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