Zambia Railways Limited needs US$248-million
By Sharon Siame & Jessie Namuyemba
Zambia Railways Limited says it requires investment of about 248 million United States dollars to revamp its operations.
Zambia Railways Limited Board Chairperson EMMANUEL HACHIPUKA says the investment is expected to be funded from internal generated resources, loans, collaborating partners, grants from multilateral institutions and shareholder equity.
He said this during a media briefing held in Lusaka today to mark one-year anniversary of the Zambia Railways Board of Directors and where he unveiled the Strategic Business Plan for 2024 to 2028.
Mr. HACHIPUKA said the thrust for the new Strategic Business Plan is to remove temporary speed restrictions, repair the existing rolling stock and acquire new equipment.
He said this will translate in improved utilisation, equipment turn-around, human and working capital and increased revenue.
Mr. HACHIPUKA said one of most pressing challenges facing Zambia Railways Limited is the current track condition which is aged and in a poor state.
He said the current track condition can only support average train speeds of about 15 kilometres per hour.
Mr. HACHIPUKA explained that the deferred maintenance due to cash flow constraints has largely contributed to the current condition of the railway structure and rolling stock.
