THE National Railways of Zimbabwe has finally cancelled the US$400 million recapitalisation tender that had been awarded to the Diaspora Infrastructural Development Group (DIDG) in partnership with South African railway company, Transnet.<\/p>\n
NRZ last year advertised a tender for the recapitalisation of its operations in the hope it would get a financier whose major task was to finance the revamp of its dilapidated infrastructure.<\/p>\n
DIDG, a group made up of Zimbabweans in the diaspora, emerged as the winner of the tender. It undertook to pour US$400 million into the operations of the NRZ.<\/p>\n
The deal has, however, failed to take off after the Transnet board was fired by South African President Cyril Ramaphosa for \u201csecretly\u201d conjuring up such a deal without the government\u2019s authority.<\/p>\n
Reports also indicated that the new Transnet board that was eventually appointed, failed to ratify the deal leading the NRZ to raise questions around its execution.<\/p>\n
In a letter dated 30 July, 2020 addressed to DIDG executive chairperson Donovan Chimhandamba, a copy of which the NewsDay is in possession of, outgoing NRZ general manager Lewis Mukwada said the railway company had decided to terminate its relationship with DIDG owing to a cocktail of operational reasons.<\/p>\n
\u201cFurther to the foregoing, I wish to advise that having given due and careful consideration to the matter and contents of the correspondence from yourselves (as noted above), the NRZ is unable to proceed with the relationship with yourselves in respect to the above tender and has resolved to and hereby terminates same or\/ and cancels the relationship and\/ or the award of tender 6599:5642 for the recapitalisation of the NRZ to Transnet and DIDG,\u201d Mukwada wrote.<\/p>\n
He cited the discontinuation of the DIDG\/ Transnet marriage as one of the reasons that had effectively led to the cancellation of the deal.<\/p>\n
\u201c(Some of the reasons include) \u2026 The collapse or coming to an end of the relationship between Transnet and DIDG as a consortium for purposes of participation in the implementation of the above tender.<\/p>\n
THE National Railways of Zimbabwe has finally cancelled the US$400 million recapitalisation tender that had been awarded to the Diaspora Infrastructural Development Group (DIDG) in partnership with South African railway company, Transnet. NRZ last year advertised a tender for the recapitalisation of its operations in the hope it would get a financier whose major task […]<\/p>\n","protected":false},"author":84,"featured_media":13652,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[901],"class_list":{"0":"post-26064","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-community","9":"tag-nrz"},"yoast_head":"\n