INFRASTRUCTURE DEAL
Transnet in Zimbabwe rail venture
Zimbabwean President Emmerson Mnangagwa chose a ribbon-cutting ceremony marking the start of a joint venture between SA and Zimbabwe on Wednesday to declare the country "open for business". The National Railways of Zimbabwe (NRZ) took delivery of seven mainline locomotives, seven passenger coaches and 157 wagons from a consortium made up of Zimbabwe’s Dias-pora Infrastructure Development Group (DIDG) and SA’s state-owned rail transport group Transnet, under a six-month interim arrangement to help Zimbabwe tackle its immediate rail-transport needs. Mnangagwa said the joint venture began a $1.76bn infrastructure recapitalisation project, under which the interim lease formed part of a $400m railway recapitalisation tender. The tender was won by the DIDG-Transnet partnership in 2017. The original bidding had 82 contenders that were whittled down to six: China Civil Engineering, Sino Hydro, Crowe Horwath & Welsha, SHM Railway of Malaysia and Croyeaux of Zimbabwe. Deloitte was the adviser...
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