Transnet boost for World Cup bid
10 October 2003
South Africa's bid to host the 2010 Soccer World Cup received another boost this week when transport utility Transnet announced a R12-million cash injection for the SA 2010 Bid Company.
Transnet will not only provide financial aid to the bid, but will also provide a further R4-million in logistics and transport-related services.
Making the announcement in Johannesburg, Transnet chairman Bongani Khumalo said that for South Africa to host such a mammoth event, it needed to have its infrastructure in order, including the transportation system.
"There are still certain challenges that we need to focus on such as inner city and intercity transport, and Transnet is in a position to assist in this regard," he said.
Khumalo added that infrastructure upgrading was in the parastatal's proposed capital expenditure. He said that Transnet, the biggest transport parastatal on the continent, has budgeted to invest R88-billion in infrastructure
renewal and rolling stock renewal over the next 15 years.
Transnet is responsible for some of the country's major transport utilities, such as South African Airways, the Ports Authority and Metrorail.
The Bid Company's coffers have now swelled to more than R100-million, surpassing the initial target by R20-million, as the country makes a second attempt to host world soccer's quadrennial spectacle.
Morocco, Libya, Tunisia and Egypt are also in the running to be the hosts of Fifa's 2010 Soccer World Cup, to be held in Africa for the first time in the world body's 100-year history.
Source: BuaNews
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