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Uganda Railways Corp. (URC) April 10 selected CANARAIL Consultants Inc. as transaction advisor to the country's Ministry of Finance, Planning and Economic Development regarding Uganda's railway reform and privatization plans.
CANARAIL Consultants, which would lead a consortium comprising Vanness Co. (U.S.A.), Consilium Legis (Pty) Ltd. (South Africa) and International Development Consultants (Uganda), would advise and assist Uganda in all aspects facilitating URC's restructuring and privatization, including all preparatory and implementation work.
Montreal-based CANARAIL, an international consulting engineering firm specializing in urban and railway transportation, also would provide all technical input (particularly through due diligence and restructuring phases), analyze the railway, and determine future investment needs related to infrastructure, rolling stock, operations and future-market development.
URC, which is 100-percent owned by the government of Uganda and sole operator of the country's rail and marine services, was formed in 1997 following the collapse of East African Railways Corp. URC's main objectives are to construct, operate and maintain rail, marine and related road services both in and outside Uganda for the movement of goods and passengers.