South Africa's Transnet sees higher capital spending

South Africa's state-owned logistics firm Transnet expects its capital expansion plan will now cost 336.6 billion rand ($27.07 billion), up from 312.2 billion a year ago, the company said on Tuesday. Transnet is four years into a seven year plan to expand railways, pipelines and ports in Africa's most advanced economy where growth is hovering around 2 percent. The state-owned firm still has room to borrow more and increase spending to boost economic growth, according to acting chief ex