Tanzania govt gives go-ahead to SGRF’s Bagamoyo project

Muscat - 

Oman’s State General Reserve Fund (SGRF) on Monday announced that the government of Tanzania has officially approved the comprehensive project proposal, which was submitted by the SGRF with its project partner China Merchants Port earlier this year.

The proposal included dredging of the navigational channel, construction of a port and logistics park and the development of a portside industrial free zone, collectively referred to as the Bagamoyo Special Economic Zone project.

The Tanzanian government’s approval comes as a major milestone and will be preceded by negotiations on legal agreements. Rapidly after, activities will commence on environmental studies, tendering of engineering, procurement and construction (EPC) packages and construction works on the project, according to a press release issued by the SGRF.

H E Abdulsalam al Murshidi, executive president of the SGRF, said, “We would like to thank the government of Tanzania for entrusting us with the development of this project. We highly value this partnership which comes in light of the deep-rooted historical relations with Tanzania and a strong testimony to the successful relations with the China Merchant Group.”

Bagamoyo project is one of the largest strategic projects of the SGRF. It consists of construction of a maritime port with international standards, to be developed in phases. The first phase will include four marine berths, two of which will be allocated to containers, one for multiple uses and another for support services.

The first phase of the port will be developed parallel to the development of the supporting infrastructure, as well as the industrial zone associated with the port. An additional area of 700 hectares will be allocated for the future development of the port, which is expected to accommodate giant vessels.

There is also a free industrial zone connected to the port covering an area of 1,700 hectares. Around 70 per cent of this area will be allocated to factories, workshops, stores and warehouses, and 30 per cent for transportation networks, landscaping, water, power, gas and telecommunications networks.

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