It’s a common misconception among investors that less-developed countries can’t build out railways unless there is an international “donor” for the funding.
However, the attached report suggests that if you engage shippers — like coal and ore companies — as part of the railway project funding effort, you CAN finance the construction project without depending on outside “charity.”
Take a look at this Executive Summary of my West Africa railway feasibility study: EXECUTIVE SUMMARY Rail Feasibility Report to UEMOA-Final
There is also a French version of this report available. Email me for that version.