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Labrish
Nyuuz
NRZ advances recapitalization with new investments and public-private deals
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[QUOTE="Munyaradzi Mafaro, post: 49452, member: 636"] Zimbabwe Railways wants to completely rebuild its train system with help from foreign money. The government train company needs 100 million dollars to buy new engines and cars. Money experts from other countries will check if the railway can pay back loans. Railway officials signed a deal with an Indian company called RITES last year. The first new trains started running this past April after months of waiting. Private companies are helping fix old train cars and engines across the country. Zimasco already fixed 84 train cars and put them back to work on the tracks. Strauss Logistics repaired 100 fuel tanks that carry gas and oil. ARC company fixed 20 special tank cars and rented two engines to the railway. Zim Gas helped repair eight tanks that carry cooking gas for homes. Chinese builders want to upgrade all the train tracks to modern standards. TransTech company finished studying what needs fixing and how much it will cost. Railway workers completed repairs on the important Machipanda-Mutare train line. The Mutare-Harare section still needs more work before trains can run smoothly. Better tracks will help move farm products and mining materials faster. Foreign investors like the railway project but want more details first. They worry about government rules changing and losing their money. Railway managers say recent improvements make investors feel more confident about putting money into trains. The company once employed over 20,000 people and remains one of the biggest transportation employers. Better trains will reduce truck traffic and help the environment. [/QUOTE]
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Labrish
Nyuuz
NRZ advances recapitalization with new investments and public-private deals
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