News / National
Chinese firm concludes NRZ feasibility study
07 Jun 2024 at 07:24hrs | Views
The National Railways of Zimbabwe (NRZ) announced this week that a feasibility study on a potential investment deal with a Chinese company has been completed.
NRZ recently signed an investment agreement with TransTech, a subsidiary of China Railway International Group (Crig), to potentially modernize its rail system and infrastructure to world-class standards.
The proposed $533 million investment deal, if finalized, would include the provision of locomotives and other rail equipment, the construction of a new Beitbridge-Harare railway line, and increased transportation of minerals.
Crig Chairperson Yen Chen Yun visited Zimbabwe recently to discuss the investment proposal with government and NRZ officials.
The Chinese company has also conducted an extensive examination of NRZ infrastructure, including rail lines, marshalling yards, and workshops.
NRZ Public Relations and Stakeholder Manager Andrew Kunambura confirmed that the feasibility study has been completed and a report will be presented to both parties for analysis.
"They have concluded the feasibility study and will present the report to their principals and to us for analysis, which will then inform the decision both parties will make," he said.
Kunambura also noted that the feasibility study included aspects of NRZ's strategic turnaround plan, although he did not specify when the report would be available.
Finance and Investment Promotion Minister Mthuli Ncube recently highlighted the need to leverage Crig's expertise and financial resources to improve NRZ.
NRZ recently signed an investment agreement with TransTech, a subsidiary of China Railway International Group (Crig), to potentially modernize its rail system and infrastructure to world-class standards.
The proposed $533 million investment deal, if finalized, would include the provision of locomotives and other rail equipment, the construction of a new Beitbridge-Harare railway line, and increased transportation of minerals.
Crig Chairperson Yen Chen Yun visited Zimbabwe recently to discuss the investment proposal with government and NRZ officials.
The Chinese company has also conducted an extensive examination of NRZ infrastructure, including rail lines, marshalling yards, and workshops.
NRZ Public Relations and Stakeholder Manager Andrew Kunambura confirmed that the feasibility study has been completed and a report will be presented to both parties for analysis.
"They have concluded the feasibility study and will present the report to their principals and to us for analysis, which will then inform the decision both parties will make," he said.
Kunambura also noted that the feasibility study included aspects of NRZ's strategic turnaround plan, although he did not specify when the report would be available.
Finance and Investment Promotion Minister Mthuli Ncube recently highlighted the need to leverage Crig's expertise and financial resources to improve NRZ.
Source - The Herald
