Zim’s railway development project gets funding approval
16 Sep 2019 - by
The ambitions of the National Railways of Zimbabwe (NRZ) to “be a provider of world-class railway infrastructure and transport services by 2020” are back on track, after the executive board approved a $420 million funding offer from the Diaspora Infrastructure Development Group (DIDG).
The DIDG/Transnet Consortium won the tender for the NRZ recapitalisation project in 2017.
The recapitalisation and rehabilitation project involves acquiring rolling stock, signalling equipment and information communication technology (ICT) equipment.
The NRZ’s board chairperson, advocate Martin Dinha, said that the funding offer had been submitted to the country’s Treasury department for approval.