Following construction of a Tanzania-Zambia railway in the 1970s, China is set to increase its presence in East Africa with the green-lighting of construction of an ambitious multi-billion-dollar port complex in Tanzania.
Due to break ground in 2015, the port project will be named Bagamoyo port and located within a special economic zone, reported MarEx.
Expected to cost more than US$10 billion, the project will include a port and industrial zone, as well as a commercial zone, logistics park, residential area, ICT park and tourism area.
A joint initiative between Tanzania, Chinese development company China Merchant Holding International, and an Omani wealth fund, the port will be located 75 kilometres out of the Tanzanian capital of Dar es Salaam.
The new complex will aim to alleviate significant bottlenecks at Tanzania's main port.
