Treasury allocates Z$2 billion to NRZ for rail upgrades

26 Nov, 2021 - 16:11 0 Views
Treasury allocates Z$2 billion to NRZ for rail upgrades

The Chronicle

Business Reporter

GOVERNMENT has allocated Z$2 billion to the National Railways of Zimbabwe (NRZ) in the 2022 National Budget to be channelled towards critical rail infrastructure upgrades.

A good rail network plays a very important role in the movement of goods and is a catalyst for economic growth and development.

Experts say a vibrant railway system is crucial in reduce the burden on road transportation at a time when the country’s road infrastructure continues to suffer from the absence of this nexus.

Presenting the 2022 budget in Parliament yesterday, Finance and Economic Development Minister, Professor Mthuli Ncube, said taking concrete actions and steps towards revamping the country’s railway network was important towards reducing road accidents.

“The 2022 National Budget, is therefore, setting aside Z$2 billion for the upgrading of some critical interventions on the Hwange-Harare railway line,” said the minister.

“Our priority will be on rehabilitation and upgrading the mainline from Hwange to Harare, with focus being on signaling and communication systems, concrete sleepers and the rail line.

“Noting the limitations of the fiscus, other financing options such as loan financing and PPPs will be pursued.”

 

 

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