adminmanager Mr Fanuel Masikati said the funds would be enough to meet short-to medium-term requirements of the company.
“As an organisation we need to be recapitalised to the tune of between US$300 and US$400 million so that we can improve our operations through upgrading and rehabilitating infrastructure for smooth operations that are in line with the country’s expectations on us as a transporter,” he said.
In the long term, the rail transport will require US$2 billion to modernise its operations.
Mr Masikati said NRZ was expecting to US$20 million this year from Treasury, but this was far below the company’s requirements. NRZ is among 10 State enterprises that were listed in 2010 for restructuring.
Mining, agriculture and energy industries have guaranteed the rail utility of at least six million tonnes of business this year.
“We are a company that has shown that the future is promising contrary to some assertions that we are the missing link in the economic turnaround.
“We know our role as the backbone of the transportation industry. Rail transport is an indispensable mode of transportation for any country that wants to develop,” said Mr Masikati.
Meanwhile, Sakunda Holdings and NRZ have signed a US$2 million deal for the repair of 50 fuel tanks.
About US$1 million was availed during the signing of the deal recently.
This deal will improve the movement of fuel into the country.
Speaking at the signing ceremony, Sakunda Holdings chief executive officer Mr Kudakwashe Tagwirei said the deal would have positive impact in the distribution of fuel in the southern parts of the country.
“The partnership will also enhance and improve Sakunda’s distribution of fuel to many parts of the country and it will greatly benefit players in the fuel sector,” said Mr Tagwirei.
He said as of now, Sakunda was supplying more than 50 percent of fuel in the country.
“As Sakunda Holdings, we have geared ourselves for growth and innovation in the fuel sector in Zimbabwe as we continue to unravel ways of facilitating importation and distribution of fuel in Zimbabwe,” said Mr Tagwirei
NRZ general manager Retired Air Commodore Karakadzai said this development would boost operations of the parastatal since they were facing serious economic challenges.
“This is a blessing since we are facing challenges in recapitalisation as a State organisation . . . Things are not easy for us.
“Sakunda Holdings has made a very wise decision by this partnership since it is cheap to transport fuel using rail and this will not only help Sakunda but everyone will benefit from this,” he said
He said this development means the country would be importing nine million litres of fuel a month.
Online Reporter