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IDC TO SECURE ONE BILLION US DOLLARS FOR ZAMBIA RAILWAYS

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By Chansa Kunda

The Industrial Development Corporation -IDC- says it is working on securing a 1-billion United-states-dollar investment package for the Zambia Railways Limited.

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

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

He says the newly instituted 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.

Meanwhile, Zambia Railways Chief Executive Officer Christopher Musonda said the appointment of the board will spur infrastructure and economic growth for the firm.

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