2 C
Alba Iulia
Wednesday, January 29, 2020

TAZARA seeks US$1.2 billion private sector investment

Economy TAZARA seeks US$1.2 billion private sector investment

anzania-Zambia Railway Authority (TAZARA) has received four new diesel-electric mainline locomotives and 18 new passenger coaches valued at US$22.4 million.
Tanzania-Zambia Railway Authority (TAZARA) has received four new diesel-electric mainline locomotives and 18 new passenger coaches valued at US$22.4 million.
The Tanzania-Zambia Railway Authority (TAZARA) is in need of urgent capital injection of about US$250 million and US$1.2 billion of investments in the short and long term respectively.

TAZARA Managing Director Bruno Ching’andu has since called on private investors to tap into the US$1.2billion investment gap in order to revive the railway firm.

Mr. Ching’andu said that the struggling firm needs an urgent capital injection for among many projects, the rehabilitation of the railway line and equipment.

ZANIS reports that the TAZARA Managing Director was speaking when he made a presentation to the 7th 2016 East and Central Africa Roads and Rail Summit in Dar es Salaam yesterday.

And Mr. Ching’andu assured the summit that the two shareholding governments of Zambia and Tanzania were in the process of revising the TAZARA Act in order to make the company more commercially viable and attractive to private players.

He also disclosed that TAZARA is taking measures to reclaim the market share of the available cargo destined to or originating from Malawi, Zambia and the Democratic Republic of Congo, cargo that was directly captive to TAZARA.

Mr. Ching’andu reaffirmed that TAZARA’s most desired goal was to make meaningful contributions to the development of the economies of Tanzania and Zambia.

This is according to a statement issued to ZANIS in Lusaka today by TAZARA Head of Public Relations, Conrad Simuchile.

[Read 61 times, 1 reads today]

3 COMMENTS

  1. I grew up seeing these diesel engines. 30+ years later I still see the same + I hear complaints of having no money. My question is where do they take all the money they make from all those goods they transport. I mean, I do not know any government controlled business that make any profit even when they enjoy government incentives. Shame on us, look at Zamtel, ZR, TZR, for once can we change our mindset and do for this country something we can all be proud of, please.

  2. What has Akashambatwa been doing?
    For a company which has the freight monopoly along the Dar es Salaam to Kapiri corridor, this company ought to be minting money.
    That excellent workshop facility at Mununga Quarry could be making spares for the mines.
    TAZARA needs someone with business acumen to run it.

Comments are closed.

- Advertisement -
Loading...

Latest News

Zambians will not accept another Electoral Coup D’etat at the Hands of PF

By: Anthony Bwalya - UPND Member Modern coup d'etat are no longer promulgated and executed by dissident groups against legitimately...

Health Professions Council of Zambia suspends a programme at Copperstone University of Luanshya

Health Professions Council of Zambia (HPCZ) has indefinitely suspended a Diploma programme in Environmental health at Copperstone University of Luanshya District on the Copperbelt...

Amos Chanda and Zindaba Soko pleads not Guilty to two counts of corrupt practices

Former Presidential Press Aide Amos Chanda and Former Road Transport and Safety Agency -RTSA Chief Executive Officer, Zindaba Soko have pleaded not guilty to...

Bishop Joseph Kazhila’s Son pleads not guilty

A son of a prominent Chingola clergyman, Bishop Joseph Kazhila, has today pleaded not guilty to one count of conduct likely to cause a...

The suspect in connection with the gassing of residents with unknown chemicals has been arrested

The neighborhood watch of Mutenda community in the outskirts of Chingola District on the Copperbelt province have apprehended a suspect in connection with the...

More Articles In This Category

- Advertisement -
[Read 21 times, 1 reads today]