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FINANCIAL NEWS
Tanzania starts USD10b port construction backed by Oman
18 Oct 2015
(MENAFN) Tanzania started construction work on a USD10 billion port and special economic zone, a project backed by China and Oman that aims to transform the country into a regional trade and transport hub.
The port, which will be Tanzania’s biggest, is being built at Bagamoyo, 75km (47 miles) north of Dar-es-Salaam, the commercial capital that is currently the site of the country’s main port.
“The construction of the Bagamoyo port and a special economic zone is aimed at realizing the government’s goal of bringing about an industrial revolution in Tanzania,” President said.
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