| Map of Mwambani Port |
Following approval of the largest 53tr/- Mwambani Economic Corridor
Project in Tanga Region by the East African Community (EAC) Secretariat,
several international companies have now expressed commitment to inject
funds for smooth implementation.
In an interview with the 'Daily News' in Dar es Salaam, Mr Tenga
could not get into details on the matter, including disclosing names of
the companies on the list, but was quick to point out that they have
received other good news from Johannesburg, South Africa.
"Information we have, suggest that Johannesburg Stock Exchange have
expressed interest in cross-listing the project into their stock
market," said the director of MWAPORC, an acronym for Mwambani Port and
Railway Corridor, a Tanzanian Project Company.
However, he said, they have been told that at present Johannesburg
was not allowed to deal in dollars, but in rand. Nevertheless, he said,
they (Johannesburg) were contemplating of pushing South African
authorities to allow cross-listing dollar currency.
According to Mr Tenga, some other local companies have also shown
interests in participating in the implementation of the project,
including the National Social Security Fund (NSSF) and the National
Housing Corporation (NHC).
He said that due to the size of the project, which shall involve a
free port, an airport city, water, gas and oil pipelines to be laid
along railway lines and construction of new railway towns which may
require being under the Prime Minister's Office instead of transport
ministry alone.
"We are now in the process of negotiating a memorandum of
understanding (MoU) with the responsible Ministry of Investment and
Empowerment in the Prime Minister's Office, currently headed by Dr Mary
Nagu," Mr Tenga pointed out.
The Mwambani project is also to involve construction of a deep sea
and free port at Mwambani in Tanga Region and a new heavy haul standard
gauge railway that would link the Indian Ocean to the Atlantic Ocean
from Tanzania, through Uganda and the Democratic Republic of Congo
(DRC).
Early last month, top officials of MWAPORC met with the EAC
Secretariat in Arusha to present details of the modern, efficient and
cost effective transport logistics corridor project to get its support
and approval so that it is integrated in the EAC infrastructure master
plan.
After the presentation, the EAC Secretariat resolved that the
"Mwambani Economic Corridor Project is a major regional infrastructure
project that has the potential of fundamentally transforming the
economies of East-Central Africa."
Thus, it said, the community shall support the project company,
MWAPORC to implement the project in all ways possible and the secretary
general remarked that the implementation of the project would be a 'game
changer' for the entire region.
Mr Tenga said during implementation of the project, the development
of a hub port and free port coupled with a heavy haul railway linking
Tanzania to the rich markets of east-central Africa shall result in
immense social-economic prosperity for Tanzania.
"Tanzania shall enjoy a major economic boom as a new railway, port
and free port investments stimulate agro-development, real estate and
manufacturing and shall create thousands of new jobs and careers," he
said.
He said that the new deep sea port shall be designed to have the
ability to make Tanzania a direct hub port, enabling direct shipping
from international ports and thus significantly reducing the cost of
logistics to exporters and importers.
Mr Tenga explained further that the free port at Tanga to be
constructed adjacent to the new deep sea port, would host manufacturing,
logistics and other service industries and key anchor activities shall
include an integrated iron and steel manufacturing cluster.
Source: The Daily News, www.dailynews.co.tz, reported by Faustine Kapama in Dar es Salaam
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