U.S.-based Railnet International plans to invest an estimated $11 billion in a modern railway line and high speed trains linking Zambia, Zimbabwe and Mozambique, its chief executive said on Sunday.
Railnet CEO Donald Kress said in an interview his railway development and construction company was in talks with governments in the three countries and signed an agreement to start feasibility studies in Zambia.
“We have a group known as Magcor International and their CEO has arranged financing through a group of investors,” Kress told Reuters on Sunday following the signing of an agreement on Saturday.
“Until we have signed a contract with the investors, they have requested to remain anonymous,” Kress said in an interview.
The investment in the project, running from Zambia’s Copperbelt province to the port of Beira in Mozambique via Harare in Zimbabwe includes the cost of locomotives and wagons, he said.
Feasibility studies were expected to begin in the next six weeks and would be followed by detailed engineering design for the project on the Zambian side, Kress said.
Construction was expected to begin in January 2021, Kress said, adding that Railnet would replace the existing system to allow freight trains to travel at 120 km/hour and passenger trains at 160 km/hour.
Transport and Communication Permanent Secretary Misheck Lungu, who signed the agreement for Zambia said Railnet would build the new railway line parallel to the existing old one.
Lungu said the project would enable business including mining companies in Africa’s second-largest copper producer to transport bulk cargo by railway instead of using roads.
Railnet would operate the modern railway for a number of years and hand it over to the government after recovering its investment from the profit made, Lungu said.
Sounds like PF campaign stuff; why would the US invest in Zimbabwe, which is still under their economic sanctions, and Mozambique, which is still in a civil war. By the way Zambian friends, the US is still far behind Europe and Asia when it comes to High Speed Trains.
Other “entertaining” story…
Why should anyone believe this? It’s doable of course, but I don’t know hw financially it is.
I rubbish some of this, because
1. High speed passenger trains don’t have an average of 160 Km/h. Plus high speed trains don’t use regular railway lines.
2. US just put more sanctions on Zimbabwe, so no US company would be foolish enough invest in Zim at the moment.
3. Any project that are done across nations require respective govts signing a particular contract.
Good points all you guys. PF has lost it. They still think zambians are stupid & so they come up with new lies to steal more.
They will never get their $2 billion back, not viable, trains from china, Europe and others travel faster than this train and the US is not a modern train smart country. most Train lines are owned by Canadian Train companies
is this a novel
Day dreaming and more hallucinations from PF bandits….blah blah blah…..we just hearing about all these projects since 2011
Too late now, you has 10 years to do it but you did nothing. It is Adedo 2021.
had 10
Anyone who believes this needs brain surgery. Have you heard of high speed trains in the US? America does not own even one high speed train. America desperately needs one. How come they leave US markets that are profitable to start one in Zambia? Are they trying to experiment if they can make one on you guys? Ask yourselves, how come Mushimba’s rail from Serenje to Chipata was $2.03 billion? This “high speed” and longer distance is $1.1 billion. Zambia is now a criminal enterprise.
Where’s reliable mains electricity grid to ensure that this works? Dream on PF.
So basically you are saying that these guys will invest billions. Run the system for a few years so that the profits cover the cost of investment… then hand it over to Zambia to actually enjoy the profits. Why???
So gassed. LMFAO!!
Americans don’t invest in such projects…..if this was the Chinese then yes , not the yanks.
In their own backyard in South America there are no reliable trains , why would they come and invest in Africa ? Nowhere near oil for that matter ?
120 km/h and 160 km/h is not high speed. High speed should be above 200 km/h. Too expensive from a nation without high speed trains to talk about. Get some quotation from countries with reputable high speed train networks. Hint, hint. China is the leader by far in this field. Just ask anyone who has been on the Chinese high speed trains. Others are Germany, Japan, Spain and France.
This is a blue lie US will never invest in these three countries for simple reasons Zambia too much corruption,Zimbabwe no activities going on there for them to get there money back,Mozambique war and US is not stupid like China you can never over borrow from US.
Early April foolz joke here? Not in Zambia its not viable.
Looks true to me. I googled and its reported on Reuters! But if its a lie then it wont help PF much, its too late and I agree 100% that 120 to 160 km/h is too slow
No much credibility to the story, is US playing double standards? When were sanctions lifted for Zimbabwe or have they just seen an opportunity to just block china. US are not good with Just projects. The East or French can do better. Does this Ka Lungu Misheck do so research on such things or he is also playing DULL like his Big Brother in Plot ONE??
Railnet International is a company that is barely 4 years old. If you check their website (https://www.railnetinternational.com/projects), their only track record is project proposals in Ghana, Mali, Senegal, and DRC. They have never implemented anything! The kind of projects they are proposing require serious financing and government guarantees. No serious American company will take this PF government with its flip-flops on tax policy seriously. So, this is PF propaganda that should be treated as such! In fact, this is probably “nkhani za mu kachasu” which started with the former Transport Minister (Mushimba) who promised us an airline many years ago, many times over. That is yet to materialize!
The proof is in the pudding …. the details are too vague…someone is going to get stung here..I hope its not our money like the $30 million will lost to EA via that moron Brian Mushimba!
Chriwa had plans for this type of trains with those standard speeds of 120 -160 km/h, with locomotives made or assembled in Zambia with 70% value addition but you laughed at him now you want to believe these con men just where are they going to get that amount of money on the stock market?
Yes to American investment!
No to chinese exploitation.
The USA will bring great technology, great standards, great ethics, and great business culture.
Very unlike chinese “investment”. They have no regard for ethics, human rights etc. The Americans are always a better option to deal with. The chinese are usually only interested in exploitation. They never do any skills transfer or anything like that. They are willing to corrupt people to meet their ends.
Yes to the US.
THIS DEAL IS DEFINITELY NOT WITH THE US !! CHINA RALIWAY CORPORATION HAVE JUST SIGNED A DEAL WITH ZAMBIA TO UPGRADE RAILWAY. THE CONTRACT IS WORTH $ 824.7 MILLION.
“running from Zambia’s Copperbelt province to the port of Beira in Mozambique via Harare in Zimbabwe includes the cost of locomotives and wagons”
All this doesnt make any sense not everyone is a dull Grade 7 PF cadre….where are you going to build a new line to the existing one? Have they bought the land already from ZRL? These are thorny issues you just dont talk haphazardly…this PS Lungu will dance alone in the court room that signature he is putting on paper. How do they build a line parallel to the line that the Chinese will be rehabilitating for close to $800 million? Docile Zambians wake up PF will do anything to raise money for campaigns next year…
Cecil Rhodes was ahead for his time on the right track with the Cape to Cairo concept. Let’s step up!
“Railnet International” does not have a CV worth looking at! They have ZERO completed projects! The beauty with the internet is that information on everybody is available for you to see. Only a fool will be impressed with this. It reeks of the Railway Systems of Zambia saga!
Who brought this conman here?
What is sad is not the project…what is sad is that the concept and project began with Prof. Clive Chirwa who was shown the door because of such vision….hatred not even corruption disrupts all development in Africa lagging behind with time
Ceci Rhodes you are praising you dumbo had to shoot and kill your tribesman who refused him passage for his line and you are here ignorantly praising him…he didnt even pay for anything. Wake up and go read some books about self!!
This is a dream come true for transport of passengers and merchandise in North-Eastern Africa. Investors need to double efforts in readiness for the bright future. Bulk transporters, including farmers and manufacturers will increase profit margin through affordable transport costs while at the same time raising their production targets. There is need to offer shares on the stock exchange to any interested members of the public to increase capital and share the burden of investment. Rail sector is big employer.
Father Christmas is a white garbed white beared muzungu….
Hi hi for early Christmas fool coming on April one twenty twenty.
@Dr. Makasa Kasonde (Private Citizen) . With all that knowledge and you are still day dreaming?!??!? There is no bright future when these dimwats have not done anything but enrich themselves in the years they have been in power. How do you expect these dreams to come true when there is no infrastructure, when roads cave in on themselves, when nothing functions in our beloved sh!tho!e? Who is going to travel on these dreams when 40% of Zambians live below the poverty line?
An American private investor ploughing in 11 billion in broken down countries like Zambia and Zimbabwe. That can never happen. Just the traffic volume compared to the US. They would rather invest in the US since the USA has not fast training and they yearn for one.
We are all doomed.
Ha!
It’s too early for April F.ools jokes
Under USA law no USA company can deal with a country under sanctions. Only PF F.ools can believe this
High speed trains from the USA – my foot!!!!. Maybe talk of nuclear heads, If you are dreaming of high speed trains look elsewhere certainly not USA. Maybe Japan or China. As we are talking USA is in talks with China for a speed train. Now where are all these dreams coming from?
Disaster!!!
It is preposterous that Zambia to date has no high speed train let alone a known well working railroad business to talk about.
ZR and TAZARA are skeletons of their former selves.
We are not as gullible as you thinks I’m we ba PF,a conduit of theft in the making
Dr. Makasa Kasonde (Private Citizen) – You are back again to day dream on LT…what did we tell you on your national airline? 30 million dollars later there is nothing, airlines are closing down in Europe you could have used that 30 mill to build clinics. Do you really believe you can build parrel line to existing one just line baking bread in oven…really laughable…what happens when that line reaches a town and a station? It means you have to build your own station …think think
This Thorn in the a$$ – You wait for an article about HH, this is too complex for your small brain…you dont have train but you had two Eurobonds with nothing to show for
Kakwata Aniche – US has no high speed trains ..its too much day dreaming in the village!
Ba under5 you are free to make fan of the ever working,practical party like Pf. Just like on the Lusaka decongestion project ba under5 thought the Pf government was day dreaming …boom the project is on on. Upnd (ba under5) is a party full of sadducees and pharisees meaning Sad to see and far to see,what a sat.anic party who just want to see bad things.
bee – You are an average simpleton cadre ..do you think we care about your silly UPND here? do you even know the funding criterion for Lusaka de-congestion project and how it started? Come 2021 you will start singing that its Edgar Lungu forgetting that its funded via INDIA EXIM Bank loan to the tune of $260 million and started in the MMD govt.. your PF govt only decided to pay $14 million towards a project in their capital city yet gave Ethiopian Airlines $30 million for a pointless national airline and also bought 42 overpriced Fire Trucks for $42 million.
bee – You are an average simpleton cadre ..do you think we care about your sil ly UPND here? do you even know the funding criterion for Lusaka de-congestion project and how it started? Come 2021 you will start singing that its Ed gar Lungu forgetting that its funded via INDIA EXIM Bank loan to the tune of $260 million and started in the MMD govt.. your PF govt only decided to pay $14 million towards a project in their capital city yet gave Ethiopian Airlines $30 million for a pointless national airline and also bought 42 overpriced Fire Trucks for $42 million.
We chinangwa Bee! Learn to see through lies. This is not about UPND. This company (Railnet) has no track record to do a project like this: in fact, they have never done ny project other than talking to shallow minds like the PS they talked to. In addition, such a project requires government guarantees and a US company will not deal with a government under US sanctions. Show us the $30 million airline before you start talking about something else!
Rubbish
Please don’t believe this nonsense. I even checked the Website of this company. It doesn’t look impressive, and no contact info like phone numbers, etc. PF losers trying to hoodwink us again. And Zimbabwe is still under USA sanctions. No USA based company would be doing business with them. Just another lie from the incompetent Pf thieves.
If this conman is allowed to rip the current line to so called replace it with a new fast one, it will be another Dag Hammasjorde Stadium disaster!
Ba pompwe, you cant continue telling lies, you are dealing with an informed citizenry. Am loving the comments.
This is called a ball show!
USA, they are far outdated for these things, in Mozambique China built the road that links Beira-Machipanda, and the same Chinese will use it for 50 years! my question is: WILL THE ROAD BE WELL WITHIN 50 YEARS ?? !!
Here is some interesting facts quote-“We have a group known as Magcor International and their CEO has arranged financing through a group of investors,” Kress told Reuters on Sunday following the signing of an agreement on Saturday.
“Until we have signed a contract with the investors, they have requested to remain anonymous,” Kress said in an interview.
1 -Who signs agreements on Saturdays- no public servant would show up
2-who gives press releases on a Sunday
3 -this Magcor International group that got all this $11 billion is located in Calgary Canada (google it)
4-on google earth you can go to the address and its a paint store in a shopping centre not office tour looks like Arcades
5- i phoned the phone on their web site and some either Asian or china-man answered the phone but not…
kkkkkkk, number 1 & 2! pessoal, fiquem espertos! voces aceitam ser ser enganado mesmo!!!
1 -Who signs agreements on Saturdays- no public servant would show up
2-who gives press releases on a Sunday
5- i phoned the phone on their web site and some either Asian or china-man answered the phone but not a Canadian, i asked him what Magcor sold and he said commercial design and paint. so hardware stores must be doing well in Canada to have a extra $11 billion to invest in railways!!!!!.
6- Check it out for yourself
kkkkkkk, number 1 & 2!, guys, stay smart! you accept to be deceived even !
1 -Who signs agreements on Saturdays- no public servant would show up
2-who gives press releases on a Sunday
7-you will see it has 2 staff and was registered in March 2019 and turnover of $480,000 CDN (ZW5million) and there are other companies registered in the last 2 yrs of addresses in the provinces of Quebec and Ontario in Canada
It also states that the Directors are under investigation by the ROYAL CANADIAN MOUNTED POLICE so that may explain why one of the directors is in Ghana now , All this info was taken off the Cdn govt corporation website
Corporation Directors
Name Address
Michael Glynn 5 Lister Hospital Road, Accra A1A 1A1, Ghana
Kyle Caravan 5050 106 Avenue Southeast, Calgary AB T2C 5E9, Canada
Entities with the same directors
Name Director Name Director Address
3082067 CANADA INC. MICHAEL GLYNN 43 GLENRIDGE ROAD, NEPEAN ON K2G 2Z6, Canada
CHILDRENS NEUROBLASTOMA FOUNDATION…
con’t
CHILDRENS NEUROBLASTOMA FOUNDATION – MICHAEL GLYNN 184 KENSINGTON AVENUE, BEACONSFIELD QC H9W 2J3, Canada
7149492 CANADA INC. MICHAEL GLYNN 184 KENSINGTON AVENUE, BEACONSFIELD QC H3P 1E6, Canada
8- office located at 24 Ngumbo Rd Long Acres Lusaka – not sure who resides here
9-Recently set up company in Hong Kong
10-Was investing 5 billion USD$ in Zimbabwe coal mining project in 2018 never happened
11- Canadians like Americans can’t invest in Zim due to Sanctions so maybe that why the RCMPolice is investigating
12- Michael Glynn is most likely a Ex Zimbabwean
@Kalos2020. You have defeated your argument because the cost of the high speed train is NOT $1.1 Billion but eleven billion dollars ($11 billion)