Zimbabwe is upbeat the US$400 million National Railways of Zimbabwe recapitalisation deal negotiations will be completed before year end as government pins its hope on the arrangement for the turnaround of the strategic entity.

Negotiations between government and the Diaspora Infrastructure Development Group (DIDG) and South Africa’s Transnet are progressing well with expectations that the deal will be concluded before year end.

Outgoing Transport and Infrastructural Development Minister Dr Joram Gumbo is confident the project will be implemented next year and will bring positive changes to the operations of the entity.

Southern African Railways Association (SARA) president Mr Christopher Musonda said most entities in rail industry across the region are on a drive to attract investment so as to be competitive.

Transnet won the bid to recapitalise and provide technical support to the NRZ.

The DIDG and Transnet are set to deliver 480 wagons and 14 locomotives after the signing of the memorandum of understanding.

President Emmerson Mnangagwa has indicated that the new political dispensation will prioritise promotion of investments.