Fri Oct 04 23:07:24 UTC 2024: ## UAE’s IRH and South Africa’s PIC Join Forces to Boost Rail and Green Energy Infrastructure

**Abu Dhabi, UAE -** International Resources Holding (IRH), a subsidiary of the UAE’s wealthiest company, International Holding Company, has partnered with South Africa’s Public Investment Corporation (PIC) to invest in rail infrastructure and green energy projects in South Africa.

The two entities announced the agreement on Monday, outlining their plans to contribute to the transition away from coal-powered energy in South Africa and address the country’s logistical challenges. The PIC, Africa’s largest asset manager, will bring its extensive portfolio of investments in mining, agriculture, manufacturing, real estate, and financial services to the partnership.

IRH and PIC aim to work together on South Africa’s ambitious plan to replace its reliance on coal with cleaner energy sources. The agreement also seeks to expand South Africa’s logistical capacity by addressing freight rail and port bottlenecks that have hampered commodity exports.

These bottlenecks are largely due to the struggles of South Africa’s state-owned logistics firm Transnet, which operates the country’s freight rail and ports and has been hampered by equipment shortages and maintenance backlogs after years of under-investment.

In addition to supporting the shift to clean energy and improving logistics, the agreement also seeks to bring underperforming and undeveloped mining assets in South Africa to full production capacity. The specific assets involved were not disclosed.

This latest venture follows IRH’s recent acquisition of a 51 percent stake in Zambia’s Mopani Copper Mines earlier this year. IRH has been actively pursuing other copper assets in Zambia and across Africa, reflecting the UAE’s drive to secure critical metal supplies for its burgeoning clean energy sector.

The partnership between IRH and PIC marks a significant step towards realizing South Africa’s ambitious infrastructure and energy goals. It also highlights the growing interest of UAE-based companies in investing in African markets, particularly in sectors vital for the transition to a greener future.

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