Transnet purchased seven harbor cranes at unreasonably high prices.
The reason for the more expensive price is because of the Chinese company, who provided the cranes, had to pay the Guptas for the acquisition of the contract.
The deal was apparently closed in 2011 at R 570 million, but was later increased to R 650 million to allow for “commission and fees.”
The cranes were delivered in 2012/2013 and experts described the transaction as “the most expensive crane transaction ever.”
Brian Molefe, former chief executive of Transnet, and the former minister of public enterprises, Malusi Gigaba, attended the reception of the first three cranes during a “gala event.”
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
