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NRZ geared to contributing towards the country's economic growth despite challenges
25 Mar 2012 at 06:45hrs | Views
Plumtree NRZ
The National Railways of Zimbabwe (NRZ) says it is geared to contributing to the country's economic growth despite challenges of under-capitalisation.
NRZ General Manager, Retired Air Commodore Mike Karakadzai said the parastatal requires about US$2 billion for recapitalisation phased over a period of ten years.
He said the money will be used to for the acquisition of new locomotives, wagons and rehabilitation of railway infrastructure throughout the country.
Retired Air Commodore Karakadzai said despite making recapitalisation bids of about $75 million in the current financial term; the parastatal only got $20 million.
Meanwhile, the NRZ General Manager is heading a 25-member delegation that is touring the country to assess the parastatal's infrastructure.
NRZ General Manager, Retired Air Commodore Mike Karakadzai said the parastatal requires about US$2 billion for recapitalisation phased over a period of ten years.
Retired Air Commodore Karakadzai said despite making recapitalisation bids of about $75 million in the current financial term; the parastatal only got $20 million.
Meanwhile, the NRZ General Manager is heading a 25-member delegation that is touring the country to assess the parastatal's infrastructure.
Source - Zbc
