Tanzania breaks ground on $10bn China-Oman funded port

Tanzania has announced it has started the construction of a $10-billion port and a special economic zone at Bagamoyo, 75 km north of Dar es Salaam, a project funded by China and Oman, which aims to transform the East African country into a regional trade and transport hub, Reuters reported.

On completion, the port will be Tanzania’s and East Africa’s biggest. It is expected to ease pressure off the country’s main port in Dar er Salaam.

The mega project will include the construction of roads and railways.

Dar es Salaam port, the current largest port in Tanzania, the new Bagamoyo Port will handle twenty times more cargo than Dar es Salaam port Photo: Gulfconstructiononline

According to Reuters, the project is funded by “China Merchants Holdings (International), China’s largest port operator, and Oman’s State General Reserve Fund. The Chinese firm will handle much of the construction work”.

The mega project is reportedly going to “dwarf Kenya’s port at Mombasa, east Africa’s trade gateway about 300 km (180 miles) to the north, and aims to capitalise on growth in a region seeking to exploit new oil and gas finds”.

Tanzania has been recording steady economic growth over the past few years, hovering around 7 percent. According to the African Development Bank, the country’s strong economic performance  has been “supported by public investment in infrastructure, with growth projected to remain above 7% in the medium term”.

Source: Reuters