Transnet turnaround will rely on engineering division: Mabunda

File image: Transnet terminals at Richards Bay Port in KwaZulu-Natal.

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Transnet says the entity’s turnaround will largely rely on its engineering division as an original equipment manufacturer.

The entity held a stakeholder ceremony to outline its engineering strategy and boost its brand visibility.

Transnet will soon launch a rolling stock leasing company called LeaseCo and is also diversifying into the supply of components to make up for the failed Chinese locomotive deal.

The rail company believes the efforts will return it to financial profitability in the coming financial year.

Transnet Engineering Chief Executive Bessie Mabunda says, “We did issue a request for information at the beginning of the year, and this has closed in March. So basically what that is sticking to do is, given that we had unsolicited approaches.”

“We want to formalise this and to see if there are entities out there that have access to spares, which are either replacement, components for the CRRC (China Railway Rolling Stock Corporation) parts or to some extent, even original parts manufacturer that may have worked with the CRRC, who may be interested in engaging with us directly to see if there’s any opportunity for that.”

Mabunda adds: “So, we are going to be going through the RFP (Railway Protection Force) once, the RFI (Request for Information) side of things have been completed, and we then see if there will then be any viable solutions that come.”