Zambia Railways Limited (ZRL) Scoops $20 M Puma Crude Oil Contract.
PUMA Energy has contracted Zambia Railways Limited (ZRL) to transport its petroleum products from Ndola to Lusaka by rail to decongest the roads.
The contract to cost about US$ 20 million will result in the transportation of 144,000 metric tonnes of petroleum products annually over a period of three years.
Speaking when the two companies signed a memorandum of understanding on Monday, ZRL managing director Christopher Musonda said the development will decongest the Great North Road and increase the railway firm’s revenue base.
“ This partnership with Puma will help reduce the pressure of our roads and hopefully reduce the safety risks.
Furthermore ZRL hopes that more tonnage of fuels, will be transported by rail so to help in decongesting our roads,” he said Mr Musonda also assured Puma Energy of a secure and environmentally – friendly transportation of the products.
On the company’s financial position, Mr Musonda said ZRL remains financially sound owing to numerous contracts signed with various firms.
“ I can say that we are financially sound and able to fund all our activities. We are servicing customers within Zambia and beyond borders efficiently,” he said.
At the same occasion, Puma managing director Yahaya Yunusa said the agreement demonstrates Puma Energy’s commitment to road safety in Zambia.
Mr Yunusa said the agreement is a demonstration of Puma’s confidence in local transport firms.