R1bn price hike for locomotives was excessive, state capture inquiry told

  • 📰 SundayTimesZA
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

South Africa Headlines News

StateCaptureInquiry 'I considered the increase excessive and difficult to justify.'

Some of the reasons attributed to the increase was the rand's declining strength against the Japanese yen - which Callard said had nothing to do with procurement from China - and the conflict in Ukraine.

"I considered the increase excessive and difficult to justify ... The decision by group and/or supply-chain services to arbitrarily and unilaterally change technical specifications without technical consultation, while not technically proficient themselves, was irresponsible in the extreme," said Callard.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Transnet former execs awarded contracts without board or management consultation | IOL NewsActing Transnet CEO Mohammed Mahomedy has detailed how former Transnet execs disregarded procurement procedures to award ...
Source: IOL - 🏆 46. / 51 Read more »

WATCH LIVE | Former Transnet engineer testifies at state capture inquiryFormer Transnet electrical engineer Francis Callard is testifying at the state capture inquiry on Friday.
Source: TimesLIVE - 🏆 28. / 59 Read more »

State capture hears of suspicious alterations to locomotive proposal at Transnet - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Former electrical engineer at Transnet, Francis Callard, has told the commission that former Transnet executive, Siyabonga Gama allegedly altered a proposal for the acquisition of 100 locomotives to favour China South Rail.
Source: SABC News Online - 🏆 32. / 51 Read more »

Former Transnet executives allegedly involved in irregular transactions with Gupta-linked companies - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Transnet Electrical Engineer, Francis Callard, will assume the hot seat at the State Capture Commission in Parktown, Johannesburg, when it resumes on Friday. I'm happy with task team of state capture, EFFSouthAfrica , and Journalists for uprooting all this information about people who were involved in the Gupta crime hope justice will be served!!!
Source: SABC News Online - 🏆 32. / 51 Read more »

Investec Australia Property Fund raises R1bn with ASX listingEarlier in May, the fund said it would seek a primary listing on the ASX, in addition to its JSE primary listing
Source: BDliveSA - 🏆 12. / 63 Read more »

Brian Joffe’s in a buying moodLong4Life is sitting on a more than R1bn cash pile as it looks for acquisitions Jews are always buying....where is the news here bruvs !!!! Lol.President Brian Joffe
Source: BDliveSA - 🏆 12. / 63 Read more »

Brian Joffe’s in a buying moodLong4Life is sitting on a more than R1bn cash pile as it looks for acquisitions
Source: BDliveSA - 🏆 12. / 63 Read more »

Transnet executives ‘misled’ board about Chinese locomotivesFormer Transnet engineer Francis Callard says his documented motivation for sticking to a Japanese supplier was extensively and deliberately changed
Source: BDliveSA - 🏆 12. / 63 Read more »

Transnet executives ‘misled’ board about Chinese locomotivesFormer Transnet engineer Francis Callard says his documented motivation for sticking to a Japanese supplier was extensively and deliberately changed
Source: BDliveSA - 🏆 12. / 63 Read more »

WATCH LIVE: Ex-Transnet manager takes stand at Zondo InquiryFormer Transnet strategy manager Francis Callard is giving evidence at the Zondo Commission on Friday after days of shocking evidence of corruption and maladministration by the company's acting group chief executive.
Source: ewnupdates - 🏆 30. / 53 Read more »

Documents 'deliberately' altered to award locomotive contract to China South Rail, Zondo inquiry hearsFormer Transnet executives had amended a business case to procure 100 locomotives so that it would favour China South Rail in tender processes, the state capture commission of inquiry heard.
Source: News24 - 🏆 4. / 80 Read more »