Tanzania Plans New $5.6 Billion Rail to Iron Ore, Coal-Rich Area
- Secured about $2.2 billion interest from investors, financiers
- Nation expanding railway network to boost trade with neighbors
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Tanzania is seeking $5.6 billion for a new railway in the south linking the Indian Ocean to Lake Nyasa and traversing regions rich in iron-ore, coal and graphite.
The East African nation is looking for public-private partnerships for the 1,000-kilometer (621-mile) line, according to a presentation by Tanzania Railways Corp. Managing Director Masanja Kadogosa. The agency made a pitch to investors and financiers at the Africa Investment Forum in Marrakech, Morocco, earlier this month and secured at least $2.2 billion of interest in the project, he said.