By Nchimunya Miyoba in Kitwe
Tanzania Zambia Railway Authority (TAZARA) needs capital injection of about US $250 million to recapitalise the company.
This came to light when Mines and Minerals Minister Richard Musukwa toured the TAZARA stand at the ongoing Copperbelt Mining, Agricultural, Industrial, Networking and Enterprise Exhibition (CAMINEX) in Kitwe.
TAZARA Deputy Managing Director Bertram Kiswanga said $250 million USD would address the serious challenges that the company is facing.
Mr Kiswanga said the company is facing various challenges such as human capital and infrastructure due to the limited finances.
He said the challenges mentioned are affecting the operations of the firm.
“Human capital has been the firms major challenges as most of the skilled labour is retiring or opt to leave the company for greener pastures,” he said.
On a positive note, Mr Kiswanga said TAZARA would soon conclude talks with the Mopani Copper Mines (MCM) and Konkola Copper Mines (KCM) to haul its copper.
He said this is in tandem with the recently announced Statutory Instrument by Government to move heavy cargo from the road to railway.
Meanwhile Mr Musukwa challenged TAZARA management to seriously look at the SI and ensure that the company develop capacity for the implementation of the SI.