Revival opportunity for Bagamoyo project

The project, initially introduced in 2013, was halted several years ago after the Tanzanian government and CHMI were not able to agree on some of the contractual terms of the project but IPP Media has reported that after a recent discussion with Tanzania’s Prime Minister Kassim Majaliwa, an agreement has been made to review what could be done to implement the project.

IPP Media said that according to CHMI managing director Hua Jianhua, the project represents a high risk for Chinese investors but the company is “willing to work together with the government and people of Tanzania to build the Bagamoyo Special Economic Zone.”

Open to discussion

Mr Jianhua commented on the project during a meeting with a Tanzanian government delegation led by Mr Majaliwa in Beijing recently.

Mr Majaliwa said the government is still open to discussion with potential project partners. He described the project as being important for Tanzania’s economic growth and directed government authorities to begin talks with CMHI and another partner from Oman. “This may help us all reach a conclusion that would allow the project start as soon as possible,” he said.

The project was allegedly delayed due to a lack of available finances to compensate residents displaced by the land earmarked for the project.