18 June 2017

Zimbabwe: 10 Investors Inspect NRZ Assets, Facilities

A group of ten potential investors interested in the National Railways of Zimbabwe (NRZ)'s ambitious $400 million recapitalisation project, last week inspected some of the company's assets dotted around the country.

NRZ Public Relations Manager, Nyasha Maravanyika, said the potential investors visited various installations in Bulawayo, Gweru, Sawmills and Dete in Matebeleland North to familiarise themselves with the firm's operations.

Maravanyika said the visit started on June 6 and ended on June 9 at Dabuka in Gweru where the potential investors inspected the marshalling yards, the tracks as well as the electrified section.

"The visit started on June 6 when the investors were taken on a tour of the Bulawayo Mechanical Workshops, the Central Mechanical Workshops, Mpopoma Diesel Running Maintenance depots and Mpopoma Repairs Siding. NRZ technocrats were on hand to answer questions and quires from the investors," said Maravanyika.

She said the delegation also had an opportunity to observe NRZ employees at work.

"They witnessed locomotives and wagons being repaired and refurbished in the workshops. They also took a special train on the north section up to Dete with a stop at Sawmill which offers a lot of potential to investors interested in proving equipment," said Maravanyika.

According to Maravanyika, the investors also visited the company's Central Maintenance Vehicles Workshop, the Bridge and Structural Workshops and the Materials Yard to see facilities and their capabilities.

In May this year, the struggling state owned company hosted a pre-bid investor's conference which was meant to solicit bids from potential investors interested in pouring money into the parastatal.

NRZ recently went on the open market seeking investor funds of up to $400 million.

The bid has, however, mostly attracted investors from Asian countries mainly China and Japan.

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