The company also announced it would raise 70% of the infrastructure expenditure through bank loans and local and domestic bonds.
Acting chief financial officer Anoj Singh yesterday told MPs the R300bn expenditure would be spread over the next seven years, starting with R25bn this financial year.
At its peak - in the 2016-2017 financial year - the company would inject about R56bn into infrastructure projects, Singh said.
The bulk of the spending will go towards expanding the rail network to lift its capacity of handling increased volumes.
The parastatal is also planning to complete its new multi-production pipeline and increase its coal, iron ore and manganese export capacity.
The Richards Bay Coal Terminal is also to be expanded.
Singh said the infrastructure spending would result in Transnet's head count increasing to 74 000 by 2019, adding that the bulk of the employment would be secondary jobs.
He said the company would also spend R4.6bn on bursaries and grants. Its intake of engineering bursars will increase to 543 by 2019.
Singh said the company had 2000 apprentices in training at any given time.
The company has also embarked on a number of campaigns in an attempt to curb corruption as it prepares to roll out the R300bn infrastructure programme.
These include an industrial theatre show.
"We are fully aware that, around R300bn, there is a heightened concern around fraud, corruption, and mismanagement. So we are already putting controls around that," Singh said.
"We have had 9000 employees go through an industrial theatre ... that talks about fraud and corruption and what you should do when you encounter it."
Members of the Transnet board were among the first to watch the show.
"To create a tone at the top, we did the presentation to the board," he said.
"Exco [executive] has also gone through a version."
About 15 000 employees will watch the show in the coming year. The show will be tailor-made for both blue-collar workers and management.
"We are not going to have a one size fits all. We are going to tailor it so that when you talk to management, the industrial theatre addresses management and what management has the ability to do and manipulate," said Singh. - Additional reporting by Sapa
Source: The Times via I-net Bridge
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