BULAWAYO - Zimbabwes troubled rail parastatal requires US$200 million to purchase equipment necessary to ensure the return of electric locomotives that were suspended due to extensive vandalism.Electric locomotives were suspended early this year after the overhead wires which are used to transmit power to the locomotives were vandalised.
Thieves also targeted the poles supporting the wires as well as the machines which are used for control.
The vandalised cables and components are damaged beyond use and hence the need to replace them through importing. It will cost about US$200 million to revive and resuscitate the electrified section to ensure the return of electric locomotives, a National Railways of Zimbabwe (NRZ) spokesperson said in a statement.
NRZ is seen as key to the governments economic turnaround efforts as it is viewed as the backbone of the countrys transport sector.
Finance Minister, Tendai Biti, allocated US$16.7 million to revive the countrys rail network.
NRZs collapse is blamed on the decade-long economic crisis in the country and mismanagement as seen by the unrealistic low prices charged by the parastatal.
Post published in: Economy