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Zambia awards freight-, passenger-rail service concessions to consortium

Last month, the government of Zambia awarded a 20-year freight-rail service concession to Railway Systems of Zambia Ltd. (RSZ), a New Limpopo Bridge Projects Investments Ltd.-led consortium that includes Spoornet division Transnet as a major shareholder.

For $253 million over 20 years, RSZ receives exclusive rights to provide freight service on the former Zambia Railways Ltd. network. Zambia also granted the consortium a seven-year concession to provide passenger-rail service between Livingstone and Kitwe.

RSZ plans to spend $40 million during the next five years to improve and upgrade the railroad's infrastructure and rolling stock.

CPCS Transcom Ltd. served as a transaction advisor, assisting the Zambia Privatization Agency with the concession, which is part of the Zambia Railways Restructuring Project.

Contact Progressive Railroading editorial staff.

More News from 1/6/2004