Transnet has taken ownership of the Old Durban International Airport site for the development of a proposed dig-out port which will cost R75 billion.
The Airports Company SA officially handed over the site, which lies south of the city, to Transnet in Durban on Thursday.
Minister of Public Enterprises Malusi Gigaba said the dig-out port was expected to create 64 000 jobs during construction and 28 000 permanent jobs when operational.
“Today represents the start of an exciting chapter in South Africa's infrastructure development programme and the critical role state-owned companies, especially those of the department of public enterprises, are playing in transforming our economy,” Gigaba said.
He had met with communities which would be affected both positively and negatively by the proposed development on Wednesday.
The proposed dig-out port would be built in four phases, with the first phases scheduled to start in 2016, and commissioned by 2020. -Sapa