Govt Cancels US$400 Million DIDG, NRZ Deal

The government has cancelled the US$400 million deal with the  Diaspora Infrastructure Development Group (DIDG) meant to revive the National Railways of Zimbabwe (NRZ) after the latter failed to provide proof of funding before the agreed deadline as well as excluding Transnet, which was part of the consortium.

This was revealed in a statement on Wednesday by Secretary for Information, Publicity and Broadcasting Services Ndavaningi Nick Mangwana. He said:

DIDG presented a funding structure based on funds sourced internationally, which excluded Transnet.

The exclusion of Transnet had a legal impact on the tender which had been awarded to them as a consortium. In light of the foregoing, the Government took a position to issue a new tender.

DIDG-Transnet consortium was awarded the tender by the then State Procurement Board in August 2017 and NRZ was given Cabinet authority to enter into negotiations with the consortium.

However, after the consortium failed to meet the timelines which spanned for one and a half years, the government has re-tendered the project.

More: The Herald

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.

RSS Recent Pindula Profiles

Comments

Back to top

2 comments on “Govt Cancels US$400 Million DIDG, NRZ Deal

  1. Why was the agreement signed first before due diligence. You go to bed with crooks and announce the big deals to the nation only to jump out after contracting a disease and ask for your crooks for a medical certificate of health when its too late. Talk of putting carts before horses. The propaganda machinery exposes itself through such epic failures

Write a Comment

Your email address will not be published.