Tanzania: Officials Ink Bagamoyo Port Agreement
- Business & Finance
The Minister of State, Investment and Empowerment, Dr. Mary Nagu and the Chinese Ambassador to Tanzania H.E. Amb Lv Youqing witnessed the Tanzania Bagamoyo Port and Industrial Zone Project Implementation Agreement signing ceremony in Dar es Salaam.
The Bagamoyo project framework agreement was signed on 24th March 2013, witnessed by the Chinese President Xi Jinping and President of Tanzania Jakaya Kikwete. The joint task force working group was formed to develop roadmap and work plan to implement the framework agreement.
This signing marks initial achievement of the partnership between CMHI and Government of Tanzania. The Parties will continue to work closely on discussing the major terms of the relevant agreements, strive for earlier implementation and carry out the relevant construction to bring the project to operation as soon as possible.
“The development of Bagamoyo Port and Industrial Zone Project will not only accommodate future trends in increasing size of container vessels and shipping lines to form alliances, but also greatly enhance the competitive advantages of the Tanzanian Port in the future,” said Dr. Hu Jianhua, Assistant President of CMG cum Managing Director of CMHI.
Press Release, March 3, 2014