The Chron­i­cle

Chronicle (Zimbabwe) - - Front Page -

BU­L­AWAYO, Tues­day, Au­gust 20, 1991 — The Min­is­ter of Trans­port and Na­tional Sup­plies, Mr Den­nis Nor­man, yes­ter­day launched the $700 mil­lion World Bank Rail­way II Pro­ject aimed at re­struc­tur­ing and strength­en­ing the op­er­a­tions of the Na­tional Rail­ways of Zim­babwe.

Speak­ing at the launch­ing cer­e­mony in Bu­l­awayo yes­ter­day, Mr Nor­man said the pro­ject would not only ben­e­fit Zim­babwe but the en­tire South­ern Africa Devel­op­ment Co-or­di­na­tion Con­fer­ence re­gional group­ing.

He said the NRZ moved an aver­age of 14 mil­lion tonnes of traf­fic — both im­ports and ex­ports — a year from Zaire, Zam­bia, Botswana and Mozam­bique and this clearly in­di­cated that the pro­ject would not be of ben­e­fit to Zim­babwe alone.

The World Bank Rail­ways II Pro­ject was signed in Jan­uary this year.

Im­por­tant as­pects of the pro­ject in­clude the set­ting up of a per­for­mance con­tract for the NRZ’s gen­eral man­ager.

Ap­prox­i­mately 60 per­cent of the to­tal costs would be in for­eign ex­change.

The cost of the pro­ject is es­ti­mated on the ba­sis of an im­ple­men­ta­tion pe­riod of six years.

Newspapers in English

Newspapers from Zimbabwe

© PressReader. All rights reserved.