South African authorities have revealed a $7 billion plan to reindustrialize the Port of Durban, with the idea to improve its productivity and take its name as the best performing port in Africa.
The president of South Africa, Cyril Ramaphosa stated that the government ideates to deploy participation with private sectors for the expansion project of the port. This will assist the port to perform activities that initiates economic growth in the entire South African belt.
Quoting in an open letter, President Cyril Ramaphosa said,
“Partnerships with the private sector are crucial to bring new investment, technology and expertise to port operations and to modernize equipment and infrastructure. Through both operational improvements and structural reforms, Durban Port will reclaim its place as the best-performing port in Africa”
He further stated that, Transnet, the custodian port of the country, rail and pipelines, will sign a concession with a private company later by the year end. This will result in building and operating a new terminal to enhance the efficiency of container handling at the port.
The project will comprise of port modernization program along with deepening of Maydon Wharf channel which will enable large, modern vessel to enter the port with Pier 1 and Pier 2 to develop extra container capacity.
At the end of this project, the container handling capacity of the port will increase with 11 million TEU from 2.9 million TEU. This project will run for as long as 10 years, and will allow Durban to register itself again as the busiest port of Africa. As of now, it is positioned at third place after Tangiers in Morocco and Port Said in Egypt.
Transnet National Ports Authority data states that the Durban port had an overall throughput of 2.9 million TEU in 2018. During the entire year, total cargo throughput was approximately 83.1 million Tonnes, which was 6.4 percent increase from 78.1 million Tonnes in the year 2017.