Plans to revive NRZ advanced

Economy
PLANS to revive the cash-strapped National Railway of Zimbabwe (NRZ) are at an advanced stage as the country’s major railway firm seeks to breathe new life into its comatose operations

PLANS to revive the cash-strapped National Railway of Zimbabwe (NRZ) are at an advanced stage as the country’s major railway firm seeks to breathe new life into its comatose operations with the firm needing $400 million in the short term and about $10 billion in the long run to fully resuscitate full operations, an official has said. MTHANDAZO NYONI OWN CORRESPONDENT

The NRZ, previously a key player in the country economy, has been courting various potential white knights to rescue its operations which at one time saw workers going for more than six months without salaries.

NRZ public relations manager Fanuel Masikati told Southern Eye last week that there were many initiatives which the government has taken to make sure that the yesteryear glory of NRZ is restored.

He, however, could not disclose the people they have engaging saying it was premature to do that.

Obert-Mpofu“The NRZ is currently in talks with other people whom I will not disclose to you because it is too early to do that. We did that with Angola last time and the deal failed. This is the reason why the minister (Transport and Infrastructural Development minister Obert Mpofu) did not disclose who those people are,” Masikati said.

“There are many initiatives that NRZ is undertaking to help us boost our operations. Some of the initiatives would be finalised before the end of the year because studies have been carried out and we hope they will be implemented.

“We have courted many investors and discussions are taking place to refurbish NRZ.”

Masikati appealed to the corporate world to come and assist saying NRZ was key to Zimbabwe’s economy.

“We are the backbone of Zimbabwe’s economy, hence the need to revive NRZ. We also need to recapitalise to boost the fleet of our resources. We are grateful with the support we getting from the government,” he said.

Masikati also said bulk commodities should be transported by rail not trucks to avoid massive road damages.

NRZSpeaking at the Alpha Media Holding Conversations series last week which ran concurrently with the Zimbabwe International Trade Fair, Industry and Commerce minister Mike Bimha said the NRZ and New Zimsteel were key to Bulawayo’s revival.

Official statistics show that nearly 100 firms have closed shop in Bulawayo, with several others relocating to the capital to remain afloat.

An estimated $8 billion is required for retooling firms back to life as it emerged the fund meant for resuscitating distressed industries had failed to give them a new lease of life.