Co-director of the company manning the project, Mr Cuthbert Tenga, reported that the project, estimated to cost over 53 trillion/-, was in good course as they have secured all the necessary required documents to start the project.
The project, to involve construction of a deep sea and free port at Mwambani in Tanga City and a new heavy haul standard gauge railway from there, would be operated by MWAPORC, an acronym for Mwambani Port and Railway Corridor, a Tanzanian Project Company.
He was briefing chief editors at a conference organised by a local investment company, VIP Engineering and Marketing Limited, in Bagamoyo, Coast Region, over the weekend when he stressed that the project would also involve ordinary citizens, who would own some shares.
VIP Company would also team up with MWAPORC for the successful implementation of the project. “Indigenous entities and persons shall be given an opportunity to co-own shares and other securities via listings and cross listings on Capital Markets and Securities,” Mr Tenga, a renowned advocate told the conference.
He pointed out that issues that have so far been accomplished include foundation training of Core Project Management Office Professionals, comprehensive Project Scoping Studies, Internal Financial Modelling and Viability Analysis.
According to him, there were also comprehensive terms of reference for Pre-Feasibility Studies and early development or quick wins identification and that the comprehensive draft project Agreement for Tanzania has been completed.
On part of the government, Mr Tenga said, the government has authorised the development of the project and a Comprehensive Project Agreement is ready for review.
While the government of Burundi, he said, has signed a Comprehensive Memorandum of Understanding with MWAPORC authorising the corridor through Burundi, the DRC government has expressed firm written support and Uganda has confirmed its support.
He said that the EAC Secretariat has endorsed the project and appointed Dr Enos Bukuku, Deputy Secretary General-Planning and Infrastructure, to coordinate development of MEC with the EAC.
EAC Transport, Communications and Meteorology Council of Ministers has recognised the project as a private sector-led Economic Corridor within EAC.
The Mwambani project will involve construction of a deep sea and free port at Mwambani in Tanga Region, an airport city, water, gas and oil pipelines to be laid along the railways line and construction of new railways towns.
Mr Tenga pointed out that a new heavy haul standard gauge railway would link the Indian Ocean and the Atlantic Ocean from Tanzania, through Uganda and DRC.
He said that 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 will result in immense social-economic prosperity for Tanzania. “We are trying to build this corridor in a way that has not been done here in Tanzania.
We are looking at putting a corridor with enabling infrastructures like railways, harbours, port, which is very big in terms of magnitude, a hub port for that matter, which can carry huge ships available now in the world,” he remarked.
Advocate Tenga noted that Africa was left in transportation network because there was no hub port where big ships may harbour, land and carry goods to wherever destination at a lower cost.
Therefore, he said, Tanzania will enjoy a major economic boom as new Railway, Port and Free Port Investments stimulate agro-development, real estate and manufacturing and will create thousands of new jobs and careers.
According to him, the new Deep Sea Port will 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 added that the Free Port at Tanga, to be constructed adjacent the new Deep Sea Port, would host manufacturing, logistics and other service industries while key anchor activities will include an integrated iron and steel manufacturing cluster.
Daily News
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