Saudi giant eyes Cape Town port

• Saudi Arabian ports operator Red Sea Gateway Terminal is considering bidding for a 25-year concession to refurbish and operate a terminal at the Port of Cape Town.
• The move is part of Transnet's efforts to modernise infrastructure and increase cargo-handling capacity at the Port of Cape Town, which was ranked the world's worst performer last year by the World Bank and S&P Global.
• The successful bidder is expected to be announced in November, with the concession set to begin in 2024, potentially bringing significant investment and improvements to the port's operations.