Business / Companies
Chinese investors keen to partner with NRZ
08 Mar 2013 at 15:50hrs | Views
The National Railways of Zimbabwe says a number of Chinese investors are keen to partner the parastatal to restore its operational viability.
NRZ General Manager Retired Air Commodore Mike Karakadzai said several Chinese partners are interested in investing in his organisation, but no deal has been clinched as they are awaiting government guarantees.
Retired Air Commodore Karakadzai said the parastatal needs about US$2 billion for its short, mid and long term recapitalisation programme.
Contrary to reports that were awash in the media about NRZ engaging a Japanese partner, the NRZ boss said the Japanese had only shown interest in resuscitating the north-south corridor and not Zimbabwe's railway system in particular.
"We have been going around scouting for potential partners and we have some Chinese partners who are still on the horizon. We are not aware of the Japanese partners, maybe they have engaged the ministry," he said.
The NRZ is in dire need of recapitalisation as most of its locomotives are now obsolete while the railway system is riddled by potholes.
NRZ General Manager Retired Air Commodore Mike Karakadzai said several Chinese partners are interested in investing in his organisation, but no deal has been clinched as they are awaiting government guarantees.
Retired Air Commodore Karakadzai said the parastatal needs about US$2 billion for its short, mid and long term recapitalisation programme.
"We have been going around scouting for potential partners and we have some Chinese partners who are still on the horizon. We are not aware of the Japanese partners, maybe they have engaged the ministry," he said.
The NRZ is in dire need of recapitalisation as most of its locomotives are now obsolete while the railway system is riddled by potholes.
Source - zbc
