Chinese firm completes feasibility study, US$533 m...

Chinese firm completes feasibility study, US$533 million investment on horizon

Oscar J Jeke

Zim Now Reporter

Chinese Railway Int. Group subsidiary firm, TransTech, and the National Railways of Zimbabwe, have completed a feasibility study that will pave way for a US$533 million investment meant for the modernisation of rail systems in the struggling state railway company.

The deal, anticipated to enhance modernisation of rail system and infrastructure, as well as improve freight movements, and transportation of minerals among other goods, will be aided by provision of locomotives, and construction of a new railway line connecting Beitbridge and Harare.

Finance Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, said the country takes advantage of such partnerships that bring expertise and financial muscle to improve various infrastructure within the NRZ, adding that there is need to upgrade rolling stocks and signalling.

Zimbabwe is in talks with China Railway Group Ltd. to help modernise the State-owned NRZ.

“We believe that we could make use of their expertise and financial muscle to improve the NRZ. It needs an upgrade in the fixed stocks as well as rolling stocks and signaling,” he said.

NRZ public relations and stakeholder manager, Andrew Kunambura also noted that the feasibility study had been concluded and a report will be released.

“They were doing a feasibility study which they have now concluded and they will present a report to their principals and to us for analysis. That will then inform what decision both parties will arrive at,” said Kunambura.