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.