State-owned freight logistics group Transnet has pared back its 2016/17 capital expenditure (capex) plan in line with its strategy of “validating” demand ahead of moving ahead with major investments. The rail, ports and pipelines utility expects to invest around R22.8-billion during the 2017 financial year, having already reduced its capex in 2016 to R29.6-billion, from a peak of R33.6-billion in 2015.
