News / National
Getting it right:- BBR plans $5 million Zimbabwe railway upgrade
05 Apr 2016 at 10:04hrs | Views
In our article of 13 March headlined South African company plans $5 million Zimbabwe railway upgrade the the headline and first two paragraphs of the article were incorrect.
While the information attributed to BBR chief executive Thembi Moyo was correct, the headline and the first two paragraphs, which provide the main focus of the article, were incorrect.
We indicated that Grindrod will do the upgrades, but it has come to light that BBR is the company which is planning upgrade works worth %5 million in the period 2016 to 2018.
Grindrod, the South African company to which you refer, does not have an 85 percent stake in BBR, nor is it planning to inject $5 million into upgrading railway infrastructure in Zimbabwe.
For your information the facts in relation to BBR's ownership and its relationship with Grindrod are as follows:
BBR is owned by NLPI Limited (NLPI). Grindrod is one of several shareholders in NLPI. Contrary to our report of 24 August 2014, it does not hold a controlling interest in NLPI. However, NLPI has given a Grindrod subsidiary Grindrod Rail Consultancy Services a management contract in respect of BBR's railway operations.
M.J. Hamilton gave the clarifications in an e-mail addressed to the editor. We sincerely apologise for the inconveniences that may have been caused by the inaccuracies in our report.
While the information attributed to BBR chief executive Thembi Moyo was correct, the headline and the first two paragraphs, which provide the main focus of the article, were incorrect.
We indicated that Grindrod will do the upgrades, but it has come to light that BBR is the company which is planning upgrade works worth %5 million in the period 2016 to 2018.
Grindrod, the South African company to which you refer, does not have an 85 percent stake in BBR, nor is it planning to inject $5 million into upgrading railway infrastructure in Zimbabwe.
For your information the facts in relation to BBR's ownership and its relationship with Grindrod are as follows:
BBR is owned by NLPI Limited (NLPI). Grindrod is one of several shareholders in NLPI. Contrary to our report of 24 August 2014, it does not hold a controlling interest in NLPI. However, NLPI has given a Grindrod subsidiary Grindrod Rail Consultancy Services a management contract in respect of BBR's railway operations.
M.J. Hamilton gave the clarifications in an e-mail addressed to the editor. We sincerely apologise for the inconveniences that may have been caused by the inaccuracies in our report.
Source - Byo24News
