You are currently viewing TAZARA seals investment co-operation agreement

TAZARA seals investment co-operation agreement

THE Tanzania-Zambia Railway Authority (TAZARA) has signed a memorandum of understanding (MoU) with Bombadier Transportation, a global leader in rail technology, to explore possibilities for investment co-operation.

With access to possible international funding options to support the revitalisation of TAZARA, Bombardier Transportation has offered a preliminary turnkey solution for the authority to increase efficiency and capacity in the areas of track, rolling stock, signaling and telecommunications.

TAZARA managing director Bruno Ching’andu said following the signing of the MoU, a joint team will be created to undertake a feasibility study that will define and agree on the scope of the partnership.
This is contained in a statement availed to the Daily Mail on Friday.
Mr Ching’andu said Bombardier Transportation will submit a full technical and financial proposal for the authority for consideration after the feasibility study.
“We are delighted to welcome Bombardier Transportation, an acclaimed global leader in rail and aircraft technology, as one of the key partners in our quest to attain medium to long-term aspirations that include investing in rolling stock and infrastructure.
“On our part, we remain very open to all possibilities for introducing investments in rolling stock and infrastructure, which is essential for uplifting our capacity and instilling confidence in our customers,” he said.
Commenting on the development, Bombardier Transportation director for sales and business development Nazif Tasci assured TAZARA that it was very possible to arrange a turnkey solution, including a very attractive funding arrangement via the Kingdom of Sweden.
Mr Tasci signed the MoU on behalf of Bombardier Transportation.
“In the past, we have successfully closed transactions based on support from the European-based Export Credit Agencies, Export Development Canada, the Swedish Export Credits Guarantee Board, and the Swedish Export Credit Corporation to extend financing to our customers and we strongly believe this is also possible in the case of TAZARA,” he said.