truck rehabilitation programme in Livingstone
Zambia Railways says it is in the market seeking US$922 million capitalization for its 5 year rehabilitation plan.
Zambia Railways Chief Executive Officer Christopher Musonda revealed in an interview with Railways Africa that this part of the five year strategic plan which has since been approved.
Mr. Musonda said the firm is in talks with financiers for the proposed five-year business plan which includes a USD$922 million capital injection, for existing operations.
He said he could not name the financiers as talks were currently underway.
He also outlined the upcoming procurement of 40 new locomotives and 2000 specialised wagons, under the rehabilitation plan.
He said so far, ZR have leased 12 locomotives from Transnet of South Africa to help achieve the targets of moving 30 percent of cargo from road to rail in line with the new Statutory Instrument.
Mr Musonda also noted that the passing of the SI on movement of heavy cargo ha seen a jump in tonnage by 25 percent and a 22% rise in revenue.
The CEO further revealed that Zambia Railways currently employs about 1,000 direct employees and around 300 contractors, making its staffing levels one of the highest.
He said there is need to increase production given the high number of workers employed by the company.
Mr. Musonda stated that the feasibility studies that will soon be underway will inform the firm on how the financiers will recoup their investment.
First tell us what you did with the $120m Eurobond
First sort out FIC. Otherwise even that money will go down the drain.
PF id1ots.
Quarter of that amount alone is what bombardier in UK would use to develop a complete electric train from concept to complete manufacture.
Now PF wants to borrow that amount to stash in their pockets when they failed to account for $120million given to them.
PF ni bachimbwi chabe.
These PF thieves took out a huge loan during Clive Chirwa’s time to transform ZR.
What did they do with that money?
Can PF supporters please explain to us how they sleep at night?
Meanwhile, Tasila and Lusambo will continue donating maize and toilet tissues to the poor.
What a mess!
This is a small sum of money. It can be raised depending on how it’s structured to stop. Real fears of financiers are how to stop government officials misusing company assets during campaigns. I hv seen situations where ministers hv commandeered assets such cars from govt agencies under their portfolios. There’s no accounting for such waste.
Iwe musonda you are just laughing there isn’t it?
Ulusekapofye tefyo?
When Prof Chriwa stated this 8 years ago you laughed at him…in fact he had a brillant value addition rehabilitation model to benefit the engineering sector but the dull natives …fellow technocrats even threw spanners in the works and reduced the man to a fraudster.
I think you can start by checking the bank accounts of PF ministers and Mr. Lungu, am sure you will find the money you need for your works
This money is estimate is grossly undervalued in my opinion …ZRL needs a complete new company with far modern diesel electric locomotives from Germany or US not replicas Shanghai
The Euro bond loudly proclaimed it was going to ZR! What did it do?
still need more $$….more theft
1st Eurobond was given to ZR & shared among cadres.
So the Eurobond was not enough? We know government borrowed some of it back. What do you do with the rest?
$120m was just shared between themselves through proxy subcontracting firms
That ZR technology is ancient! It needs replacement and not mending! Renovating a house costs more than building a new one! Give it to the Chinese on PPP! Wise countries don’t accrue more debt on infrastructure! They look for someone with the money and work out a PPP to develop and run it on their behalf for a limited duration during which there is technology and skill transfer to the locals!
ZR was not faithful in little $120m) and cannot be trusted with much ($922m)! It’s a bottomless pit!
Publish accounts for the $120m Eurobond money first and show the nation how you spent it as justification for what you want! By the way, have you visited Tanzania recently? They are commissioning two modern bullet trains!
Ba CEO,Ba Musonda,HOW DID YOU ARRIVE AT THE SUM OF $922mn BEFORE DEVELOPING A BUSINESS CASE FOR IT ON HOW YOU WILL REPAY? WE MAY BORROW TO WASTE AND LATER SURRENDER THE RAILWAY TRANSPORT TO FINANCIERS!Railway transport these days is quite tricky especially for us,landlocked countries as improvements to our internal efficiencies can just frustrated by inefficiencies of transit countries for imports and exports and still keep us uncompetitive in international trade! NOT against per se but this proposed investment needs to be analysed critically! This amount looks larger than what Mr.Kavindele needs to connect Chingola to Benguala Railways hence to Lobito Port in Angola! How about partnering with him?
Sometimes l wonder; why don’t the Lusaka City council take advantage of this railway transport network mess by creating/introducing a new and modern transport system within Lusaka Province and create Railway lines/trams by linking up areas like – Chongwe, Chisamba, Mumbwa, ltedzi-tedzi, Kafue, chirundu, etc., etc? Within one year l tell you, they would make trillions of Kwachas and create lots of jobs for our young people today. The Great North/East Roads including the ones going west/South from Lusaka City could be decongested prompt compared to what it is today. Maybe l should come back mwe what do you think guys?
That requires work comrade,
PF ministers are too lazy and dull to do such work to actualise projects like that.
Ministers like Lusambo ?
@Nkope, Don’t even try! They will frustrate you the way they did with Clive Chrwa…kikikiki
What you have said is exactly what needs to be done!
Rail travel is the way to go. Imagine Lusaka CBD without a car! That can be awesome! In fact Sata had a vision to remove vehicles from Lusaka CBD but he got frustrated by the uselessness of those he surrounded himself with!
Sata had a vision?? Wow!!
Oh come on ZR will never work, like everything else in Zambia….
Chachine mwandi Pompwe, l may just end up being killed by those looters for trying to interfere. Sadly here l am; a HD machinery Engineer, Tool maker and Master Tactician with over 40 years experience in such industry – just rotting away in these frozen lands! I cry for my mother Land – ZAMBIA…
Kenya Tanzania and Uganda are busy building modern higher speed SGR railways while Lungu’s GRZ can only come up with a rehab? Zambian leaders have no vision.