Tanzania revives $10 billion Bagamoyo port project.

Tanzania revives $10 billion Bagamoyo port project.

The government of Tanzania has revived the Bagamoyo Special Economic Zone (BSEZ) that was scrapped in 2018  by the former President, the late John Magufuli, who claimed the agreement of the contract to be commercially unviable following its unrealistic conditions.   

In June 2016, shortly after President Samia Suluhu assumed power, said she is keen to look again into the project’s agreement and see ways to bring it to the table for negotiations.

Yesterday, May 6 2022, the Minister of Industries, trade and investment Dr Ashatu Kijaji official declared the government has revived the negotiation with the potential investors of the project.

“The project aims to transform the east African country into a trade and transport hub to rival its neighbours”. Dr Ashatu Kijaji made those remarks yesterday at the parliament while addressing her ministry’s 2022/23 estimations on expenditures and revenues.

Dr Kijaji said the government has reviewed the negotiations with two companies, including China Merchants Holdings (International) Co. Ltd and Oman Investment Authority (OIA), formerly known as Oman’s State General Reserve Fund. 

Dr Kijaji said that negotiation between the government and the two firms, as mentioned earlier, involves the construction of an area of 3087 hectares which is part of the whole area of 9887 hectares for the construction of the seaport, and the logistics park that will cover 887 hectares. 

According to Dr Kijaji, the government’s decision to rekindle negotiation 

that hit an impasse in 2018, is installing all the prerequisite infrastructures for the mega-project, such as electricity, communications, water, railway gas and the ship entrance channel.