twitter Facebook Linkedin acp Contact Us

Zambia strikes rail deal with South Korea

Zambia has partnered with Korean Railroad Company (KORAIL) to revive the operations of Zambia Railways Limited (ZRL), which was recently repossessed from the Railway Systems of Zambia (RSZ)

According to Bob Sichinga, the minister of commerce, trade and industry, the government urgently requires an investor who can design, build, operate and provide efficient cargo and passenger rail network services to Zambians.

“We concessioned ZRL but it did not work well. We want to revive this company and we believe Koreans can do a great job,’’ Sichinga said.

Sichinga was speaking recently in Seoul, South Korea, when he met KORAIL officials and executive director, Kang Gyu Hyun.

KORAIL is a parastatal firm which is owned by the South Korean government, with a turnover of US$4.2bn and net profit of US$409mn as of 2011.

“We want an investor who will consider opening a route from Chingola to Mpulungu, Angola and from Mulobezi to Caprivi. Transporting goods by road is unacceptable because it is causing damage to road infrastructure,’’ Sichinga explained.

Sichinga invited KORAIL to visit Zambia and conduct a due diligence study on the railway network in the country.

"This is the right time for you to conduct a feasibility study because we recently cancelled the concession agreement of ZRL to the railway systems of Zambia," he said.

So far, offers have been received from the USA, France and South Africa, with the highest bidder set to obtain the tender.

Hyun expressed his company’s interest in exploring Zambian investment opportunities and said he would consider the request by the Zambian government, sending a team to conduct a feasibility study on the programme.

Sichinga, who accompanied Zambian president, Michael Sata, on his maiden visit to South Korea, said the trip has opened up new investment opportunities for Zambia.

 

Nawa Mutumweno

The Bell team in Richards Bay consists of more than 800 machinists, welders, and assemblers. (Image source: Bell)

GFE Power Product’s extensive range covers generators from 10 kVA up to 3,000 kVA. (Image source: GFE Power Products)

The funding is the largest-ever equity raise in the minigrid industry according to Husk. (Image source: Adobe Stock)

The initiative will help African contractors participate in annual infrastructure investments. (Image source: Afreximbank)

ITS has evolved into a sophisticated systems approach, providing numerous opportunities to revolutionise road networks. (Image source: Adobe Stock)

Invest International’s Lara Muller; Ivory Coast Minister of Finance and Economy, Adam Coulibaly; and Ambassador Designate to Ivory Coast, Jeroen Kelderhuis. (Image source: Invest International)

The Yellow Metal Machine Rental team with some Wacker Neuson equipment. (Image source: Wacker Neuson)

Although displaying resilience, the report warns that African banks remain exposed to physical climate risks due to both sovereign and industry lending. (Image source: Adobe Stock)

WAA and VCMI will seek to establish regulatory frameworks to enable access to high integrity and fair voluntary carbon markets for WAA member countries. (Image source: Adobe Stock)

The parties will also promote the mutual exchange of information and expertise in the field of export credit policies and practices. (Image source: TBD Group)

Inside Condra’s Johannesburg factory: an overhead crane positions an electric motor during assembly of hoist and crab. (Image source: Condra)

IVECO is renewing its entire product range, all at once. (Image source: IVECO)

The MoU was signed alongside the Africa Health Business Symposium. (Image source: Africa CDC)

Both the IMF and EIU expect SSA to rank as the world’s second fastest growing economy in 2024. (Image source: Adobe Stock)

There has been a focus on the sugar industry. (Image source: Adobe Stock)

Evolving concept of energy security must address energy demand, system flexibility, technology access and infrastructure development, says IRENA. (Image source: IRENA)

World Bank & African Development Bank partner to provide electricity access to 300 million Africans by 2030, leveraging public-private investments. (Image source: Adobe Stock)

(L-R): Dr Diane Karusisi, CEO, Bank of Kigali and Dr Reda Helal, group managing director – processing, Africa and co-head group processing, Network International. (Image source: Network International)

At WFES, Gotion High-tech will showcase its latest products and leading green energy solutions at its booth. (Image source: Gotion High-tech)

The new Perkins 5012 is a full-authority electronic engine optimised and purpose-built for power generation applications. (Image source: Perkins)

SSAB will begin deliveries of the new products in 2026.

The key issues restricting sub-Saharan Africa’s manufacturing sector will be unpacked at Manufacturing Indaba later this year. (Image source: Adobe Stock)

Through the innovative solution, each vessel can fill two tank containers on average between two ports. (Image source: Maersk)

Hyphen is developing sub-Saharan Africa’s largest, most advanced and only fully-vertical integrated green hydrogen project. (Image source: Hyphen)

According to Liebherr, the Used Equipment Marketplace is extremely user-friendly. (Image source: Liebherr)

Electricity storage will be pivotal in unlocking renewable projects and meeting energy demand. (Image source: Adobe Stock)

With RFID, assets can be given unique digital identities that enable users to identify and locate them all at once, from a distance, in real time. (Image source: Brady)

Africa Data Centres and DPA SA have broken ground on their solar farm in the Free State. (Image source: Africa Data Centres)

A Cat PM310 Cold Planer in action. (Image source: Caterpillar)

A larger stockholding of WEG products facilitates ready access for customers. (Image source: WEG Africa)