Editorial: Transnet needs to speed up action

For all the economic strife 2016 has delivered, the Nelson Mandela Bay metro enjoyed an impressive year on the investment front.

Of the notable deals, Beijing Automobile International Corporation’s decision to spend R11-billion on a new car manufacturing plant at Coega looks, on paper, to be the most material, if judged on value alone.

Arguably, though, the more significant venture is the Port of Ngqura’s new bulk liquid storage facility, announced last week by the Transnet National Port Authority (TNPA), with construction set to begin in September.

Once under way, it will bring a further R6-billion to local shores. That is good news for job-seekers in particular – an estimated 500 workers will be needed during the building phase.

The project will take two years and, once completed, the facility will accommodate the handling and storage of assorted liquid fuels, positioning Ngqura as a key sectorial transshipment hub.

An interesting aspect of the agreement is on the funding side. TNPA has appointed Oiltanking Grindrod Calulo to establish and operate the site on a 20-year lease. Both parties will finance the deal.

What makes this development so significant is Transnet’s plan to develop a worldclass waterfront marina at the Port Elizabeth Harbour.

To do so means first relocating the tank farm and ore dumps in Humerail. But this issue is long-standing and many have grown disillusioned with repeated delays in the project.

Happily, Ngqura changes the status considerably and solves one half of the problem. TNPA confirmed it will decommission the tank farm and rehabilitate the land once the new site opens.

It is a positive statement of intent and, hopefully, signals a similar call to arms over the manganese dumps. Nothing will happen unless they, too, are removed. So, come on Transnet, make it happen. The wait has been too long.