Transnet to Spend $1.6 Billion to Boost Coal Export, Times Says

Transnet SOC Ltd. plans to spend 13.5 billion rand ($1.6 billion) in the next three years to boost coal export capacity to 81 million tons, the Sunday Times reported.

The state-owned company will probably export 75 million tons in the 12 months through March 2013, up from 68 million tons in the previous year, the Johannesburg-based newspaper said, citing Chief Executive Officer Brian Molefe.

To contact the reporters on this story: Andres R. Martinez in Johannesburg at amartinez28@bloomberg.net;

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net