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Transnet scuppers oil rig plans

31 Jan 2012

According to a Business Report report, a multi-million plan to build a supply base to service oil rigs at Saldanha Bay has been scuppered, after Transnet National Ports Authority changed the conditions for the shipping firm wanting to build it.

Business Report reports that the Dutch company, Universal Africa Lines, planned to build the oil and gas shipping supply hub to serve its interests along the African coast. Company chief executive Roger Jungblut, says that a barrage of red tape from Transnet has halted any investment.

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