Transnet CEO Siyabonga Gama and two other executives have until the end of Monday to give reasons why they should not be suspended.
This comes after a forensic investigation revealed possible misconduct against the three executives who include Thamsanqa Jiyane and Lindiwe Mdletshe.
The three have been implicated in the irregular procurement of diesel and electric locomotives worth around R54-billion.
Transnet is one of the state-owned enterprises embroiled in the state capture scandal. Board chairperson Popo Molefe says they issued a notice of precautionary suspension last week to give the affected individuals the opportunity to respond.