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NRZ recapitalisation project on course

05 Feb, 2018 - 14:02 0 Views
NRZ recapitalisation project on course Engineer George Mlilo

eBusiness Weekly

Enacy Mapakame
HARARE – Negotiations for the National Railways of Zimbabwe (NRZ) recapitalisation are now at an advanced stage and should be concluded soon, a senior official has said.

Ministry of Transport and Infrastructure Development Secretary Engineer George Mlilo said the rehabilitation of the rail network system, which is anchored on the revival of the NRZ is a priority for Government.

But speed at which this will be implemented is dependent on the negotiations.

“The negotiations for the Recapitalisation of the National Railways of Zimbabwe are now at an advanced stage and we trust they will be successfully concluded,” he said in a presentation at the Confederation of Zimbabwe Industries (CZI) 2018 economic outlook symposium.

“The planned infrastructure development projects in the rail sector are dependent on the fruition of the said negotiations,” said Engineer Mlilo.

Part of the projects lined up under the programme include rehabilitation of the track system, signaling and communication system.

Engineer Mlilo said under the recapitalisation programme, funds will be released in tranches.

“… It still remains to be seen if the projects will be realisable this year but NRZ have prioritised the rehabilitation and provision of rolling stock (locomotives and wagons),” said Engineer Mlilo.

Southa African Transnet and the Diaspora Infrastructure Development Group (DIDG) won last year won the tender to recapitalise the NRZ with a $400 deal on the table.

The two investors are expected to deliver 480 wagons for the rail transporter and 14 locomotives.

NRZ has been struggling financially and failing to pay its employees due to cash flow problems with outstanding salaries estimated at $100 million.

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