Thursday, September 11, 2014
China Merchants Holdings to develop $11B Tanzania megaport
Tanzania has announced a successful negotiation with Chinese officials that has paved the way for work to start on the $11 billion Bagamoyo megaport this year, rather than January 2015 as originally scheduled.
China Merchants Holdings International will develop the port. The first phase of work, to be completed by 2017, includes the quay, the container yards, the cargo terminals and all dredging work.
The facilities will be expanded in stages over a period of 30 years, to give an ultimate capacity of 20 million TEUs a year, which will likely make it the largest port on the east coast of Africa. It will be able to handle RoRo ships and container vessels with a 10,000-TEU capacity.
For more of the GCR story: www.globalconreview.com
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