Zim to sign major rail upgrade deal

National Railways of Zimbabwe (NRZ) is to sign a US$4.8-billion deal with the Development Bank of Southern Africa to develop its unprofitable rail network. The final loan agreement will be signed this month, said Lewis Mukwada, general manager for NRZ. According to a recent Bloomberg Newsweek report out of Harare, Zimbabwe’s railways require US$1.9 billion in investment after freight volumes declined by about two-thirds since 2000 to 3.6 million metric tons last year. CAPTION Harare Rail Station