Transnet instructed to renew all its leases of existing tenants

The Transnet National Port Authority (TNPA) has been instructed to renew all its leases of existing tenants in the Island View precinct.

In a statement, Transport Minister, Barbara Creecy says the entity has also been instructed to give fixed access to the Central Energy Fund (CEF).

Creecy says this is to ensure a balanced transformation and energy security in the country.

The CEF will also be granted rights to operate liquid bulk terminals among other things.

The department’s spokesperson Collen Msibi says Creecy issued a directive recently to the Ports Authority to renew a 25-year lease for Astron Energy at its existing sites and terminal at the Port of Cape Town.

“Minister Creecy has indicated that this initiative attempts to achieve two important policy objectives; on the one hand, to ensure transformation of the sector dominated for decades by well-established players; on the other hand, the decision aims to ensure ongoing fuel security by ensuring that third party access is managed. In a well-regulated and incremental manner that ensures consistent usage of the island view infrastructure,” she says.