Zambia Railways Limited has requested for US$150 million from government to improve its operations.
Zambia Railways Chief Executive Officer Muyenga Attanga disclosed that the firm has already exhausted the US$120 million obtained from the Eurobond allocation.
Meanwhile, the owners of the Eurobond are waiting to be paid back their money plus interest.
Professor Attanga revealed that the bulk of the Eurobond funds have been used for ongoing rehabilitation of the railway network and purchase of new wagons.
He said Zambia Railways needs over US$530,000 to completely revamp its operations.
Atanga however observed that US$150 million will be adequate to carry out further rehabilitation works on its network and meant obligations such as the purchase of fuel.
He was speaking in Lusaka Tuesday afternoon when Secretary to Cabinet Dr Rowland Msiska paid a courtesy call on him at his office.
“We need the 150 million dollars to completely get Zambia Railways back on track. If we don’t get that amount, it means that all the good work we have done so far using the 120 million dollars from the Eurobond would go down the drain,” Professor Attanga warned.
He said Zambia Railways is also concerned that it has not been catered for in the 2015 national budget.
“We are worried that we are hearing stories that we have not been catered for in the 2015 national budget, this will make our life even more difficult. We need to secure at least US$ 150 million to get this company running efficiently again,” he said.