Tazara, Bombardier ink MoU for investment cooperation

“Both firms shall now create a joint team to undertake a feasibility study that will define and agree on the scope of the partnership, after which Bombardier Transportation will submit a full technical and financial proposal for our consideration”, Tazara Managing Director Bruno Ching’andu said.

 

He said the move was one of Tazara strategies for repositioning towards boosting its haulage capacity.

 

Ching’andu noted that, with access to possible international funding options to support the revitalization of Tazara, Bombardier Transportation had offered a preliminary turnkey solution for Tazara to increase efficiency and capacity in the areas of track, rolling stock, signaling and telecommunications.

 

“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,” said the MD.

 

He said Tazara remained  open to all possibilities for introducing investments in rolling stock and infrastructure, which was essential for uplifting its capacity and instilling confidence in customers.

 

Bombardier Transportation Director for Sales and Business Development Nazif Tasci, who signed the MoU on behalf of Bombardier, assured TAZARA that it was possible to arrange a turnkey solution, including attractive funding arrangement via the Kingdom of 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 strongly believe this is also possible in the case of TAZARA,” said Tasci.

 

Bombardier is the world’s renowned manufacturer of aircraft and trains, headquartered in Montréal, Canada, with shares traded on the Toronto Stock Exchange and also listed on the Dow Jones Sustainability World and North America indexes.

 

Tazara is a bi-national railway jointly owned by the governments of Tanzania and Zambia on a 50-50 shareholding basis. The 1,860km-railway connects landlocked Zambia to the Dar es Salaam port in Tanzania and further provides road and railway inter-connectivity to other parts of southern Africa.