IDC APPROVES $850 MILLION INVESTMENT FOR ZAMBIA RAILWAYS LIMITED
The Industrial Development Corporation (IDC) has approved an investment of $850million into the rolling stock and infrastructure for
Zambia Railways Limited.
IDC Group Chief Executive Officer Mateyo Kaluba said the $850 million
investment package will address the investment needs of ZRL.
Mr Kaluba added that the IDC has opted for a holistic approach in an a
effort to address the challenges faced by the railway company.
Mr Kaluba said the growth of Zambia Railways will ultimately contribute to the economic growth of the country.
He added that IDC is elated by ZRL’s strategic direction of transforming the railway company into a total logistics solution provider.
“As a shareholder, we have noted with delight the improvements posted by Zambia Railways in tonnage and revenue by 31percent and 25 percent
respectively” Mr Kaluba said.
The IDC Chief disclosed this during his tour of Zambia Railways facilities in Kabwe.
Meanwhile Zambia Railways Limited Chief Executive Officer thanked IDC Group CEO for undertaking the tour of ZRL facilities in Kabwe.
Mr Musonda said the investment into Zambia Railways will help build capacity as well as improve the operating efficiency.
The recapitalisation of Zambia Railways through the investment of $850 Million into rolling stock and rail infrastructure activities will result into
increased train speeds as well as increased track capacity.