n00b
JF-Expert Member
- Apr 10, 2008
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China's total direct investment in Tanzania soared from $ 700 million in 2011 to $ 2.1 billion last year. The investments are focused on railways, ports, buildings, road construction, gas pipelines and wind power farms. The investments has boosted economic growth of the county and created more than 150,000 direct jobs.
According to Imara Equity Research, bilateral trade between China and Tanzania has also soared in the same period, reaching over $ 2.5 billion by the end of 2012.
Open Data for International Development (AidData) also shows that Beijing has emerged as Tanzania's single biggest trading partner in 2012, accounting for 15 percent of Dar es Salaam's trade.
Lately, China and Tanzania have taken on up to 19 projects worth billions of dollars. Some of these projects have been financially backed by the Chinese state-owned Exim Bank to the tune of $ 10 billion.
One of these deals involves the construction of the multi-billion-dollar port at Bagamoyo, northwest of Dar es Salaam, the capital of Tanzania. Set to be the largest and most modern port in Africa, the harbor is expected to be in operation by 2017. It will handle 20 times more cargo than the Dar es Salaam Port, which is Tanzania's current major import and export gateway in East Africa.
China-state-run-firm, Merchants Holdings, has also won a deal to construct a 34km road between Bagamoyo and Mlandizi, linking the port to Tanzania's internal rail network and the Tanzania-Zambia Railway.
Additionally, a Chinese $ 1.2 billion soft loan transaction for a 523km line connecting Dar es Salaam and the Mtwara gas field was endorsed in September 2012 between Tanzanian government and the Exim Bank.
According to Imara Equity Research, bilateral trade between China and Tanzania has also soared in the same period, reaching over $ 2.5 billion by the end of 2012.
Open Data for International Development (AidData) also shows that Beijing has emerged as Tanzania's single biggest trading partner in 2012, accounting for 15 percent of Dar es Salaam's trade.
Lately, China and Tanzania have taken on up to 19 projects worth billions of dollars. Some of these projects have been financially backed by the Chinese state-owned Exim Bank to the tune of $ 10 billion.
One of these deals involves the construction of the multi-billion-dollar port at Bagamoyo, northwest of Dar es Salaam, the capital of Tanzania. Set to be the largest and most modern port in Africa, the harbor is expected to be in operation by 2017. It will handle 20 times more cargo than the Dar es Salaam Port, which is Tanzania's current major import and export gateway in East Africa.
China-state-run-firm, Merchants Holdings, has also won a deal to construct a 34km road between Bagamoyo and Mlandizi, linking the port to Tanzania's internal rail network and the Tanzania-Zambia Railway.
Additionally, a Chinese $ 1.2 billion soft loan transaction for a 523km line connecting Dar es Salaam and the Mtwara gas field was endorsed in September 2012 between Tanzanian government and the Exim Bank.