Indonesia To Partner NRZ In The Parastatal’s Recapitalisation

Indonesia Ambassador to Zimbabwe, Juniarta Sastrawan, said that his country, through the Indonesia International Economic Co-operation Programme, intends to capacitate the National Railways of Zimbabwe (NRZ) by finding investors from all over the world for the parastatal.

Sastrawan said this on Tuesday after meeting the NRZ board and management and an Indonesian team in Bulawayo. He said:

By next year we hope to have a concrete plan of the capacity building programme that we have with NRZ. Capacity building that we have is on how we can support the future investment and business of the NRZ. We are here as a partner of NRZ to find investors from all over the world.

NRZ needs about US$1,9 billion to fully recapitalise operations after years of decay. A few weeks ago, Cabinet cancelled a $US400 million deal between NRZ and the Diaspora Infrastructure Development Group (DIDG) signed in 2017.

This followed a report to the Cabinet by Transport and Infrastructural Development Minister Joe Biggie Matiza who stated that that DIDG had failed to comply with contractual timelines.

More: Chronicle

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