Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Tanzania resumes talks for $10 billion China-backed port

    Tanzania resumes talks for $10 billion China-backed port

    July 7, 2021
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Tanzanian President, Samia Suluhu Hassan

    Dar es Salaam — Tanzanian President Samia Suluhu Hassan said her government has resumed talks on a planned $10 billion port project backed by China, which was suspended by her predecessor in a disagreement over terms.

    China Merchants Holdings International, China’s largest port operator, broke ground for the port and special economic zone in October 2015, but the project hit an impasse after the inauguration of President John Magufuli a month later. The project is also financially backed by Oman’s State General Reserve Fund.

    The site of the proposed port is located 75 kilometers (47 miles) north of Dar es Salaam, the country’s main port, which importers have complained is inefficient and congested.

    Magufuli favoured expansion and upgrading of the Dar es Salaam facility rather than building a new port. But since coming to office after Magufuli’s death in March, Hassan has swiftly moved to fast-track several large projects that had been stalled.

    They include a $30 billion liquefied natural gas terminal developed by Equinor ASA, Royal Dutch Shell Plc, Exxon Mobil Corp. and other partners, and a $3 billion joint venture with China’s Sichuan Hongda Co. for an iron ore and coal mine.

    Magufuli said in 2019 that “only a madman” would agree to the conditions of the Bagamoyo port deal. Some he publicly rejected included granting a 99-year land lease to the Chinese investors, which he said was contrary to the country’s laws.

    But Hassan announced that her government has decided to revive the project “for the benefit of Tanzania.” She didn’t disclose the terms of the new negotiations.

    *Bloomberg

    Related News

    Experts urge mental health integration into primary care at WFDD

    Nigerian govt, sub-nationals share N1.681 trillion in April

    CAPPA slams Lagos Govt over secret water deal, demands full disclosure

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    Oil prices under pressure by expanding OPEC+ output

    May 23, 2025

    Shell Nigeria Gas engages stakeholders on deepening gas distribution

    May 23, 2025

    As IOCs exit onshore, NCDMB urges indigenous firms to ‘step up’

    May 23, 2025

    Ibas launches secretariat overhaul, links infrastructure to public service efficiency

    May 23, 2025

    Petrol retailers accuse Port Harcourt refinery Coordinator of sabotage

    May 23, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.