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Sunday, October 25, 2015 

$11b mooted to modernise Bagamoyo

EXPERIENCE: CMH is the largest port operator in China and is backing the bid


DAR ES SALAAM, TANZANIA - Oman and China Merchants Holdings (CMH)  are the major financiers to transform Bagamoyo into a major Tanzanian economic zone.

Outgoing President Jakaya Kikwete said recently, this means modernising the sleepy port into a modern logistics hub and this will take about three years.

However other plans are to develop an economic zone around the port that involve rail and road links. This is expected to be ready by 2025.

CMH is the largest port operator in China, but with interests in other related facilities around the  world. The Chinese will handle most of the construction work.

State General Reserve Fund, the Omani sovereign fund, is putting up money although no further details are not forthcoming from either party in this venture.

By Leonard Magomba, Sunday, October 25th, 2015