From The EastAfrican, Nairobi, Kenya
By J. MWAMUNYANGE
Rites Consortium of India has finally taken over the running of the Tanzania Railways Ltd (TRL) on a 25-year lease after months of protracted talks between the group and the government.
However, the deal comes with several conditions including a moratorium on fare increases for the third class category -popular with passengers -and the investment of a $121 million in infrastructure over the next five years.
According to the agreement, a copy of which The EastAfrican has seen, $34 million will come from the sponsors while $77 million will come from the World Bank through the International Development Agency (IDA) -$33 million; and the International Finance Corporation (IFC) - $44 million.
TRL will be free to establish and revise tariffs with the exception of the third-class passenger fares.
Read more:
http://www.nationmedia.com/eastafrican/current/Business/Business0910079.htm
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment