Economy

DC Promises $1 Billion Investment In Zambia Railways

Lusaka ~ 29 Sept 2020

By ZR Reporter

The Industrial Development Corporation (IDC) is currently working on securing a US$1 billion investment package for Zambia Railways Limited.

IDC Chief Executive Officer Mateyo Kaluba said the money, once secured, will go towards the locomotives and development of railway tracks.

He was speaking during the inauguration of the New Zambia Railways Limited Board of Directors that will be chaired by Doctor Evans Chabala.

Mr Kaluba said the newly constituted board must put Zambia Railways back on track so that it can contribute to the growth of the economy.

And Dr. Chabala said the board will strive to make the company viable so that they can provide a competitive market in the transport sector.

Dr. Chabala said the long-term target of the Zambia Railways is to become a financial contributor to the IDC.

And Zambia Railways Chief Executive Officer Christopher Musonda said the appointment of the board will grow the railway company.

4 Comments

  1. Razor

    Only a mad person will invest in black hole such as this one.

  2. Lovemore

    Not the one I see in the picture that looks like un abandoned horse carrier.
    Not in this error please!
    Let’s have value for money this time.

  3. Jata Pay

    Chris Phiri where will we find more eyes to pay back if already we can’t pay what we got before.

  4. Mungandi mulonda

    It depends on how fast the train is and how little noise it makes

Comments are closed.