Investments to boost steel demand in S.Africa

Investments to boost steel demand in S.Africa

The South African Ministry of Public Enterprises announced that the country would invest Rand 10 billion ($1.6 billion) to upgrade ports and build a pipeline from the port of Durban to Johannesburg. The pipeline will require nearly 80'000 tons of steel. South African infrastructural works company Eskom won the contract for the project last year. Eskom will require approximately 60'000 tons of steel every year during the time frame of the project. Railway operator Spoornet will also spend another Rand 8 billion to overhaul cars and railways. The investments are a part of Rand 165 billion infrastructure project aimed at renewing the country's power plants and upgrading the transportation sector.