Tanzania signs investment deals with China worth over $1.7 bln

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Tanzania signs investment deals with China worth over $1.7 bln

Fri Oct 24, 2014 2:23pm GMT
DAR ES SALAAM (Reuters) - Tanzania and China have signed investment deals to build a $1 billion satellite city and $500 million financial centre in the commercial capital Dar es Salaam, the latest sign of Beijing's deepening ties with East Africa.

The total of five deals, worth more than $1.7 billion, will go toward developments in infrastructure, power distribution, real estate and business cooperation, Tanzanian President Jakaya Kikwete said in a statement on Friday, one day after the deals were formally signed in Beijing.

The new investment deals mark China's growing economic presence in Tanzania, which has made major discoveries of natural gas off its southern coast.

The satellite city and the financial centre are joint projects by the China Railway Jianchang Engineering Company Ltd (CRJE) and Tanzania's state-run National Housing Corporation.

The satellite city, on the outskirts of Dar es Salaam, will be a self-contained urban zone equipped with water, electricity, roads, banks, schools and hospitals. It is designed to ease congestion in Dar's central business district.

Meanwhile, Tanzania's state-run power company, TANESCO, signed a deal with China's TBEA Hengyang Transformer Co. for a rural electrification project that Kikwete's office said would be worth "millions of dollars". It did not list a specific value.

Chinese investment in Tanzania has risen dramatically, reaching $2.5 billion at the end of last year, a spokesman for Kikwete said in a separate statement.

In recent years, Chinese companies have signed deals to build a new port, rail network and a 532 km (330 mile) natural gas pipeline. Between July and September of this year, Chinese investments totalled $534 million, compared to $124 million during the same period last year.

Speaking at an investment forum in Beijing on Thursday, Kikwete said he hoped to boost Tanzania's exports to the Asian powerhouse.

China's exports to Tanzania, which totalled $1.099 billion from 2012 to 2013, were roughly double the $495.74 million worth of goods China imported from Tanzania, he said.

"It's obvious we can do better," he said.

(Reporting by Fumbuka Ng'wanakilala; Editing by Edith Honan and Tom Heneghan)
© Thomson Reuters 2014. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.

Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.


Tanzania signs investment deals with China worth over $1.7 bln | Reuters.com


lawmaina78, waltham, Yule-Msee, NairobiWalker

Ile mikataba zaidi ya 20 iliyosainiwa mwaka jana ni tofauti na hii!

Geza Ulole said:

Print | Close this window
Tanzania signs investment deals with China worth over $1.7 bln

Fri Oct 24, 2014 2:23pm GMT
DAR ES SALAAM (Reuters) - Tanzania and China have signed investment deals to build a $1 billion satellite city and $500 million financial centre in the commercial capital Dar es Salaam, the latest sign of Beijing's deepening ties with East Africa.

The total of five deals, worth more than $1.7 billion, will go toward developments in infrastructure, power distribution, real estate and business cooperation, Tanzanian President Jakaya Kikwete said in a statement on Friday, one day after the deals were formally signed in Beijing.

The new investment deals mark China's growing economic presence in Tanzania, which has made major discoveries of natural gas off its southern coast.

The satellite city and the financial centre are joint projects by the China Railway Jianchang Engineering Company Ltd (CRJE) and Tanzania's state-run National Housing Corporation.

The satellite city, on the outskirts of Dar es Salaam, will be a self-contained urban zone equipped with water, electricity, roads, banks, schools and hospitals. It is designed to ease congestion in Dar's central business district.

Meanwhile, Tanzania's state-run power company, TANESCO, signed a deal with China's TBEA Hengyang Transformer Co. for a rural electrification project that Kikwete's office said would be worth "millions of dollars". It did not list a specific value.

Chinese investment in Tanzania has risen dramatically, reaching $2.5 billion at the end of last year, a spokesman for Kikwete said in a separate statement.

In recent years, Chinese companies have signed deals to build a new port, rail network and a 532 km (330 mile) natural gas pipeline. Between July and September of this year, Chinese investments totalled $534 million, compared to $124 million during the same period last year.

Speaking at an investment forum in Beijing on Thursday, Kikwete said he hoped to boost Tanzania's exports to the Asian powerhouse.

China's exports to Tanzania, which totalled $1.099 billion from 2012 to 2013, were roughly double the $495.74 million worth of goods China imported from Tanzania, he said.

"It's obvious we can do better," he said.

(Reporting by Fumbuka Ng'wanakilala; Editing by Edith Honan and Tom Heneghan)
© Thomson Reuters 2014. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.

Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.


Tanzania signs investment deals with China worth over $1.7 bln | Reuters.com
lawmaina78, waltham, Yule-Msee, NairobiWalker

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eti sleeping giant....paper giant.....na hii mikataba umetekeleza kwanza............na ukome kunitag ovyo ovyo tafadhali.

Wakuu,

Mtakumbuka takribani mwaka mmoja unusu nimewahi kugusia hii miradi kuwa i mbioni kuanza.

Ni hatua nzuri na ya kupongezwa; ingawa sijajua kwanini Salama na Kikwete.

Nehemiah Mchechu, nakutakia kila la heri katika kufanikisha mradi, hopefully hutopigwa majungu 🙂

Hadi Profesa Kikwete anaondoka nchi itakuwa imeuzwa yote...

Hongera, ila sina uhakika hii ngoma iko sawa, maana tayari mumeingia na hawa jamaa kwenye mikataba mingine mingi sana. Ina maana wamekamilisha mingine yote, bandari ya Bagamoyo pekee yake imebeba hela zote za nchi kama mkopo.

lawmaina78 said:

Hongera, ila sina uhakika hii ngoma iko sawa, maana tayari mumeingia na hawa jamaa kwenye mikataba mingine mingi sana. Ina maana wamekamilisha mingine yote, bandari ya Bagamoyo pekee yake imebeba hela zote za nchi kama mkopo.

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harufu ya wivu kama kawaida hulka ya Mtanzania ni vitendo anafanya mipango kimyakimya halafu unaskia hatua aya mwisho kama hii ya upeanaji fedha tofauti na Wakenya! Konza city imeishia wapi? au imegeuka kuwa tembo mweupe? :llama:

BTW port project is on track if you read Chinese President statement he asked his institutions to hasten the project come 2015 the project will start as planned!

Geza Ulole said:

harufu ya wivu kama kawaida hulka ya Mtanzania ni vitendo anafanya mipango kimyakimya halafu unaskia hatua aya mwisho kama hii ya upeanaji fedha tofauti na Wakenya! Konza city imeishia wapi? au imejeuka tembo mweupe? :llama:

BTW port project is on track if you read Chinese President statement he asked his institutions to hasten the project come 2015 the project will start as planned!

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Wivu au la, cha msingi ni umuhimu wa ninachouliza, sisi hawa jamaa wametukopesha kwenye mradi wa reli kiasi chenye hatutaki zaidi tena, haya ni madeni na lazima yalipike kiaina. Usipende sana mikopo kila ukigeuza kichwa.

Kwa miradi hii ukawa kwishneeeyyy

I see Tanzania a good place soon

China wameshainunua hii nchi.

Geza Ulole said:

harufu ya wivu kama kawaida hulka ya Mtanzania ni vitendo anafanya mipango kimyakimya halafu unaskia hatua aya mwisho kama hii ya upeanaji fedha tofauti na Wakenya! Konza city imeishia wapi? au imegeuka kuwa tembo mweupe? :llama:

BTW port project is on track if you read Chinese President statement he asked his institutions to hasten the project come 2015 the project will start as planned!

Click to expand...

Kaka Gezaulole, Project ya Bagamoyo Port imeshaanza siku nyingi, sema kinachoendelea ni groundwork, Nilitembelea Bagamoyo wakati wa likizo ni kashuhudia kwa macho yangu.

lawmaina78 said:

Hongera, ila sina uhakika hii ngoma iko sawa, maana tayari mumeingia na hawa jamaa kwenye mikataba mingine mingi sana. Ina maana wamekamilisha mingine yote, bandari ya Bagamoyo pekee yake imebeba hela zote za nchi kama mkopo.

Click to expand...

Hii ni miaka 50 ya uhusuiano wa TZ na China, nilidokeaza hili toka mwezi wa 8 humu kwenye jukwaa kuwa JK atakwenda BJ kufanya "encore" ya zile $20B walizosainishana mwaka jana Dar.

Shida ya Infrastructure projects huwa hazina makeke ya kuonekana kwa watu. Mradi wa chuma ulishaanza ($1B), bandari ilishaanza ($10B), bomba la gesi linakaribia kuisha ($2B) na gas power plant inakaribia kuisha,hayo majenereta waliyoenda kusaini ni kwa ajili ya Kinyerezi power plant.This was another $1B investment that is now worth more.

Sio misaada yote ni Mikopo, ukisoma utagundua wamerefer baadhi kama Chinese Investments, zilikuwa $120 miaka 5 iliyopita,mwaka huu imezidi $1B, ikiisha bandari ya Bagamoyo itakuwa $12B+. Sasa kama unadhani kila investment ni MKOPO, kajifunze kuhusu FDI, speaking of which it will be off the charts these next 3 years.

Mikataba ya TZ na China ni mingi sana in suc a way huwezi ona mikataba ya Chini ya $100M kati ya china na TZ inasainiwa na maraisi tena, wanasaini wakuu wa mikoa n.k,

mfano, kuna matrekta zaidi ya 10,000, ambayo ni almost $100M, ila huu umekuwa classified kama mradi wa kati.kasaini afisa junior tu.

Hapo Diaoyutai, wanakaa wageni rasmi wa Raisi wa China, ni sawa sawa uende US ukakae CAMP David. Hamtaki kukubali TZ tunaheshimiwa Duniani hapa hasa na CHINA,but i can bet, Maraisi wachache sana Africa wanapata audience ya kukaa Diaoyutai.

Kimweri said:

Hii ni miaka 50 ya uhusuiano wa TZ na China, nilidokeaza hili toka mwezi wa 8 humu kwenye jukwaa kuwa JK atakwenda BJ kufanya "encore" ya zile $20B walizosainishana mwaka jana Dar.

Shida ya Infrastructure projects huwa hazina makeke ya kuonekana kwa watu. Mradi wa chuma ulishaanza ($1B), bandari ilishaanza ($10B), bomba la gesi linakaribia kuisha ($2B) na gas power plant inakaribia kuisha,hayo majenereta waliyoenda kusaini ni kwa ajili ya Kinyerezi power plant.This was another $1B investment that is now worth more.

Sio misaada yote ni Mikopo, ukisoma utagundua wamerefer baadhi kama Chinese Investments, zilikuwa $120 miaka 5 iliyopita,mwaka huu imezidi $1B, ikiisha bandari ya Bagamoyo itakuwa $12B+. Sasa kama unadhani kila investment ni MKOPO, kajifunze kuhusu FDI, speaking of which it will be off the charts these next 3 years.

Mikataba ya TZ na China ni mingi sana in suc a way huwezi ona mikataba ya Chini ya $100M kati ya china na TZ inasainiwa na maraisi tena, wanasaini wakuu wa mikoa n.k,

mfano, kuna matrekta zaidi ya 10,000, ambayo ni almost $100M, ila huu umekuwa classified kama mradi wa kati.kasaini afisa junior tu.

Hapo Diaoyutai, wanakaa wageni rasmi wa Raisi wa China, ni sawa sawa uende US ukakae CAMP David. Hamtaki kukubali TZ tunaheshimiwa Duniani hapa hasa na CHINA,but i can bet, Maraisi wachache sana Africa wanapata audience ya kukaa Diaoyutai.

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BTW Uhuru Kenyatta alikaa wapi last time alipofuata hela za SGR? at lawmaina78

Kimweri said:

Kaka Gezaulole, Project ya Bagamoyo Port imeshaanza siku nyingi, sema kinachoendelea ni groundwork, Nilitembelea Bagamoyo wakati wa likizo ni kashuhudia kwa macho yangu.

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Roho inawauma, ume-notice media yao kimya haijaongelea safari ya Kikwete! wameishia kuongelea mambo ya referendum tu! Sth Unusual...
CC: lawmaina78

More sad news

Burundi-Rwanda-Dar rail for next year


Donald Kaberuka of AfDB. PHOTO | FILE

IN SUMMARY

• The hiring by the governments of Burundi, Rwanda and Tanzania, which are jointly funding the project, paves the way for CPCS to market the project to investors and ultimately attract financiers.

Construction of the railway line from Tanzania to Burundi and Rwanda could start next year after the three countries hired a transaction advisor for the project.

Canadian Pacific Consulting Services (CPCS), railways transportation services consultancy firm is to source funding and investors in the planned railway line connecting the three countries.

The hiring by the governments of Burundi, Rwanda and Tanzania, which are jointly funding the project, paves the way for CPCS to market the project to investors and ultimately attract financiers.

A functional and reliable railway line along the Central Corridor is seen as crucial in bringing down transport costs and also as key oto protecting roads, which are being damaged by heavy trucks.

http://www.theeastafrican.co.ke/news/Burundi-Rwanda-Dar-rail-for-next-year/-/2558/2499026/-/view/printVersion/-/103tpmr/-/index.html

Information from the Dar es Salaam-Isaka-Kigali / Keza-Gitega-Musongati Railway project co-ordination office in Kigali indicates that the planned 1,672 kilometre standard gauge railway project is to cost the three countries $5 billion.

And the model of investment is a private public partnership. It is also emerging that Chinese, Indian, African and German investors have expressed interest in the project. But what is holding back negotiations is that the three countries have no expertise in the private-public partnership mode of investment for railway project.

"A note of no objection has been sent to African Development Bank and should the bank okay it, CPCS will start marketing the project to prospective investors," said a source in the Rwanda Transport Development Agency.

AfDB is a key financing agency of this project after studies that have informed the three countries about the viability of the project.

Traders spend 40 per cent of the cost of an item on transport partly because of an inefficient railway system, a poor road network and growing non-tariff barriers.

http://www.theeastafrican.co.ke/news/Burundi-Rwanda-Dar-rail-for-next-year/-/2558/2499026/-/c4doc8z/-/index.html

Amaaaaah. Ok. For whose benefit? Watanzania wengi bado maskini sana na hawaezi kutoka katika umaskini huo. Poleni watanzania wezangu. Tunateseka kuwatumia misaada tu hakuna ahueni.

Geza Ulole said:

BTW Uhuru Kenyatta alikaa wapi last time alipofuata hela za SGR? at lawmaina78

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Haha, huu uchokozi wa waziwazi!atakuwa alikaa kwenye 5 star hotel hapo Beijing, maeneo ya Chaoyang, kwani mwenyewe anajiita business man, haelewi kuwa STATESMEN wana caliber yao.

Kimweri said:

Haha, huu uchokozi wa waziwazi!atakuwa alikaa kwenye 5 star hotel hapo Beijing, maeneo ya Chaoyang, kwani mwenyewe anajiita business man, haelewi kuwa STATESMEN wana caliber yao.

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hahah ati people's man! :llama:

Kimweri said:

Haha, huu uchokozi wa waziwazi!atakuwa alikaa kwenye 5 star hotel hapo Beijing, maeneo ya Chaoyang, kwani mwenyewe anajiita business man, haelewi kuwa STATESMEN wana caliber yao.

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Aha!! mumegeuza hii mada sasa ni umbeya wa jinsi marais walilala na walichokula, kwani si kila rais akienda Uchina vikao vinafanyika Diaoyutai, fuatilia hata Uhuru walikutania huko.

lawmaina78 said:

Aha!! mumegeuza hii mada sasa ni umbeya wa jinsi marais walilala na walichokula, kwani si kila rais akienda Uchina vikao vinafanyika Diaoyutai, fuatilia hata Uhuru walikutania huko.

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Kutembelea na Kukaa ni vitu viwili tofauti, cheer up.

Hongera pr.wangu kikwete.a role model wangu ktk siasa