THE Tanzania-Zambia Railway Authority (TAZARA) says it has made a profit of 13.50 million US dollars for 2015/2016 financial year as it makes steady progress from scores of turnaround measures.
The jointly owned railway line, has
attributed the profit to improved business resulting from increased
haulage from 87,000 metric tonnes of freight in the 2014/2015 financial
year to 130,000 metric tonnes in the 2015/2016 financial year.
According to a communique, issued after
the 108th meeting of the Board of Directors held in Lusaka, Zambia, the
railway firm has since projected to generate about 44.10 million US
dollars in the 2016/2017 financial year due to a turnaround in business
and cost-effective operations.
With impressive results, the Board of
Directors of the Tanzania-Zambia Railway (TAZARA) said the railway firm
has started showing signs of improvement. The communique further noted
that there were improvements in both the inter-state and commuter
passenger train operations, which were now not only running on time but
also operating cost-effectively in some units.
“In this regard, while commended for the
improvements so far, the management was urged not to relent but to go
further and apply more efforts to eliminate all losses in all units and
aim to attain the break-even point in all operations,” the communique
added.
The Board has since proposed
management’s plans for a projected 381,000 tonnes of freight and
2,280,000 interstate and commuter passengers to be transported in the
financial year 2016/2017. The 1,860-kilometre railway line, built with
the assistance of the Chinese government in the 1970s, runs from the
Zambian town of Kapiri Mposhi to the Port of Dar-es-Salaam in Tanzania.
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