• Mon. Apr 15th, 2024

NRZ revival hinges on US$81 million deal

ByEconomic Times

Jun 19, 2023

By ETimes

Indian Railways Infrastructure Consultancy and Engineering Company, (RITES) Limited said in a regulatory filing on Friday that it has signed a contract worth US$81 175 500 with National Railways of Zimbabwe (NRZ) for the supply of rolling stock wagons.

The rolling stocks are 3 000 horsepower diesel electric locomotives and high sided open wagons.

This landmark deal marks a major stride in the collaboration between RITES and NRZ, with the aim of enhancing Zimbabwe’s railway infrastructure and boosting its transportation capabilities.

In a statement RITES said, “The provision of advanced locomotives and wagons is set to revolutionise the country’s rail network, facilitating the efficient and seamless movement of goods and passengers across Zimbabwe.”

However, the filing noted that the contract agreements are subject to the approval of funding by the funding agency.

“The successful allocation of funds will pave the way for the commencement of this ambitious project, further reinforcing the partnership between RITES and NRZ,” the statement read.

NRZ and RITES, have been working with the African Development Bank on an engineering, procurement, construction and funding contract for two years now.

The deal at the time was rumored to cover the procurement of seven locomotives, 315 wagons, five diesel multiple units including infrastructure rehabilitation.

Apart from modernising and advancing the railways sector, the partnership also seeks to explore opportunities in metro rail systems and consultancy for buildings and airports.

Economic collaboration agreements between NRZ and its partners have sparked optimism across markets. Since it connects all major commercial centres, transporting bulk raw materials, finished goods and passengers, the NRZ sits at the core of local, regional and international trade.

It is the primary framework around which a competitive, integrated transport system is developed for an export-led economy that Zimbabwe is trying to build.

RITES Limited is an Indian based multi-disciplinary consultancy organization in the field of transport infrastructure, engineering, only to mention a few. The company has existed for 47 years now and has tackled projects in over 50 countries across different continents which include Asia, Africa, Latin America, South America and the Middle East region – Harare

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