THE SULTANATE OF OMAN SIGNS AN AGREEMENT ON CONSTRUCTION AND DEVELOPMENT OF BAGAMOYO PORT!

• The investment in the project is expected to generate revenues for the Sultanate Of Oman. – ONA

Pact signed to develop Tanzania port project

MUSCAT — Dr Ahmed bin Mohammed al Futaisi, Minister of Transport and Communications, yesterday signed an agreement on construction and development of Bagamoyo Port and laying of the foundation stone of the project.

Dr Al Futaisi has been assigned by His Majesty Sultan Qaboos, and is leading the Sultanate’s delegation to Tanzania. The Sultanate, represented by the State General Reserve Fund, contributes, along with Tanzania, represented by Tanzanian Ports Authority, and China, represented by China Merchant Group, in developing the port of Bagamoyo, which consists of the seaport and free economic zone.

The development of the port of Bagamoyo and the economic zone will achieve many economic benefits for the Sultanate in terms of investment returns and major opportunities offered by the project to the Omani companies and businessmen through expansion into new markets in Africa, access to global markets and ease in importing raw materials for manufacturing. 

The delegation accompanying Dr Al Futaisi comprises of Said bin Hamdon al Harthy, Under-Secretary of the Ministry of Transport and Communications for Maritime Affairs, Shaikh Yahya bin Abdullah al Fanah al Oraimi, Head of the Economic Affairs Sector in the Foreign Ministry, Saud bin Ali al Ruqaishi, the Sultanate’s Extraordinary and Plenipotentiary Ambassador to the Republic of Tanzania, Shaikh Abdullah bin Saleh al Sa’adi, the Sultanate’s Ambassador to China, Abdul Salam bin Mohammed al Murshidi, CEO of the State General Reserve Fund (SGRF) representative of the Ministry of Finance, and officials at the Ministry of Transport and Communications, the Supreme Council for Planning, SGRF and a number of the Omani businessmen. 

— Oman News Agency

http://omanobserver.om/pact-signed-to-develop-tanzania-port-project/