By John Nhandara
The recapitalisation of the National Railways of Zimbabwe (NRZ) is on course after the signing of an investment memorandum of understanding between the parastatal and a Turkish construction company, Yappe Merkez.
The investment deal, which follows a recent visit by an NRZ delegation to Turkey, is expected to result in the acquisition of locomotives and wagons, as well as the construction of the Lions Den – Kafuwe Railway line, which will be a short transit route to Zambia.
“Yappi Mhekez will bring funding for construction of railway infrastructure. They are doing a similar investment in Tanzania,” explained NRZ board chairperson, Advocate Martin Dinha.
Zimbabwe’s Ambassador to Turkey, Alfred Mutiwazuka described the MOU as testimony of the success story of the engagement and re-engagement agenda.
“This is a clear signal that we are having strong economic ties with our Turkish partners,” he said.
NRZ is on a recapitalisation drive to rehabilitate and modernise its infrastructure as well as restore operational capacity and return to profitability.