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Transnet broke all rules to give a R25bn deal to a Chinese company

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Sverige Nyheter Nyheter

Transnet jumped through hoops, broke the law and astronomically inflated prices just to secure a Chinese locomotive company a sweet R25bn deal - a transaction facilitated by the Guptas and their cronies at the state-owned entity.

"Certain transactions were approved through normal processes and some of the transactions did not go through the governance processes prescribed within Transnet," Mahomedy said.

"If we look at the maintenance agreement with CSR... we have not seen any evidence of it surfacing at any management committee meeting. It was presented directly to the board of directors and then subsequently delivered to the minister's office for approval."But the way in which the contract was procured was also irregular, said Mahomedy.

"This is the Request For Proposal document issued to the market. What it details is the BBBEE rating requirements," Mahomedy said. But this was changed by Molefe - to allow for additional out-of-country bidders. CSR then became eligible to tender and finally secured the deal."On the 95 locomotives which we entered to in 2012 with CSR, we paid a 10% deposit to CSR... We then heard that they negotiated with CSR to pay a deposit on the date of signing of 10% and within six months pay an additional deposit of 20%," Mahomedy said.

It was unusual for Transnet to pay more than a 10% deposit. Mahomedy said the amount equated to a R5.4bn upfront deposit"before a single locomotive had been delivered".

 

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Only because there is a R2. 25 billion kickback.

When will at least ONE of these fuckers be brought to book. When?

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