The National Railways of Zimbabwe (NRZ) is positioning itself to reclaim its market share following its milestone partnership with a private firm that will see a US$400 million recapitalisation.
2017 will go down in history as the year in which the NRZ marked two milestone achievements.
The parastatal is celebrating 120 years and it has now partnered Transnet and Diaspora Infrastructure Development Group (DIDG), which will invest US$400 million after winning the NRZ recapitalisation tender.
NRZ Spokesperson, Nyasha Maravanyika said the railway company is going to be a link for industrial development, targeting the mining, manufacturing and agriculture sectors.
“The 120 years that we are celebrating is a milestone not only for NRZ but for the nation. It comes in a year we are doing important things, amongst them is that this year we have started the recapitalisation project, so this year we are saying we want to revive NRZ,” said Maravanyika.
NRZ has major industrial clients like Tongaat Hulett, Hwange and ZIMASCO to which it leases locomotives and wagons.
Mr Maravanyika highlighted that the parastatal is also banking on revival of ZISCOSTEEL, which used to provide business in excess of 1 million tonnes per annum through transportation of coal from Hwange and delivering steel products to export markets.