Transnet will soon launch a rolling stock leasing company called LeaseCo and is also diversifying into the supply of components to make up for the failed Chinese locomotive deal.

The entity believes these efforts will return it to financial profitability in the coming financial year.

Bessie Mabunda, Transnet Engineering Chief Executive says, “We issued a Request for Information at the beginning of the year, which closed in March. Given the unsolicited approaches we received, we wanted to formalise the process and see if there are entities out there that have access to spares, either replacement components for CRRC parts, or possibly original parts manufacturers that may have worked with CRRC who are interested in engaging with us directly. Once the RFI phase is complete, we will go through the RFP process to explore any viable solutions that may emerge.”

--ChannelAfrica--