Tanzania-Zambia Railway Authority and Bombardier sign MoU for investment cooperation
September 20, 2017: Tanzania-Zambia Railway Authority (TAZARA) and leading global rail technology specialist, Bombardier has entered into a Memorandum of Understanding (MoU) to explore possibilities for investment cooperation. This is part of the ongoing strategies taken by TAZARA to reposition itself towards boosting the haulage capacity. The MoU was signed in the first week of September 2017 in Dar es Salaam.
With access to possible international funding options to support the revitalisation of TAZARA, Bombardier Transportation has offered a preliminary turnkey solution to increase efficiency and capacity in the areas of the track, rolling stock, signalling and telecommunications.
Following the signing of the MoU, TAZARA will create a joint team to undertake a feasibility study that will define and agree on the scope of the partnership and a full technical and financial proposal will be submitted by Bombardier.
Managing director, TAZARA, Eng. Bruno Ching’andu, welcomed the development by saying, “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.”
Bombardier Transportation Director for Sales and Business Development, Nazif Tasci, who signed the MoU on behalf of Bombardier, reassured the commitment on the turnkey solution, including funding arrangement via Sweden.
“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 firmly believe this is also possible in the case of TAZARA,” said Tasci.