Responding to the reports that the construction of the USD 10 billion Bagamoyo port, the largest port in East Africa, will be suspended, the government of Tanzania said that the construction will continue, according to local media.
The government confirmed that the project is scheduled to start in July this year, once the financing negotiations with relevant parties conclude.
Tanzania is reportedly in discussions with China Merchant Holding International (CMHI) and Oman, which are expected to conclude by March 2016.
The port of Bagamoyo is planned to spread over an area of 800 hectares and another 1,700 hectares of portside industrial zone, to be developed.
Once it becomes operational, the Bagamoyo port is expected to handle twenty times more cargo than Dar es Salaam.
World Maritime News Staff