Rail utility is suing China Railway Rolling Stock Corporation for failing to deliver spares and components
Transnet Freight Rail , which generates revenue by transporting commodities such as coal and manganese from mines to ports, has lost more than R3bn in revenue because China Railway Rolling Stock Company has refused to deliver spares and components for 195 locomotives that are largely standing idle.
A year of negotiations between Transnet and the Chinese firm over the delivery of spare parts came to nothing, forcing the state-owned freight and logistics company to launch legal action against CRRC last Wednesday...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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