IDBZ engages Co-Transaction Advisor for Beitbridge-Harare (R1) and the Harare-Chirundu (R3) (including the Harare Ring Road) Project

10 Mar 2017
News

The Government of Zimbabwe, through The Ministry of Transport and Infrastructural Development (MoTID) identified the need to rehabilitate and upgrade the Beitbridge – Harare – Chirundu Road and Harare Ring Road to meet the demands of trade and movement of goods on the North - South Corridor. Government appointed the Infrastructure Development Bank of Zimbabwe (IDBZ) as its Lead Transaction Advisor to assist through the various phases of the project cycle. In order to ensure that the advisory task was executed to highest international standards, the Bank enlisted the services of a Canadian consultancy firm, CPCS Transcom International as the Co-Transaction Advisers.  This followed an open international competitive process.  The contract between the IDBZ and CPCS Transcom International was executed on the 17th of February 2017.

The IDBZ and CPCS are tasked with providing technical, legal and financial advisory support to MoTID, in developing the road corridor through a combination of Public Private Partnership (PPP) and loan financing.

In its co-transaction advisory role, CPCS will be working with local and regional partners who include Aurecon AMEI (Pty) Ltd (South Africa) who are consulting engineers, Utho Capital (Pty) Ltd (South Africa) who are financial advisors and Manokore Attorneys, a Zimbabwean law firm.

The Beitbridge – Harare Road is approximately 582 km long and the Harare – Chirundu Road is 353 km long. The preliminary project budget is estimated to be US$2.7 billion. Actual project costs will be informed by final engineering designs and bills of quantities.

CPCS has been involved in major projects within and outside Africa. Some of the projects include Transaction Advisory Services on Nairobi Southern Bypass Public Private Partnership Project, Feasibility Study for tolling selected roads in Zambia and Feasibility Study to determine the viability of toll roads in Namibia. CPCS is also currently working with the MoTID on the National Transport Masterplan.