A senior government official said on Sunday that discussions between the government and developers of the $10 billion Bagamoyo Port have stalled because investors’ conditions denied Tanzania of maximum benefits from the scheme. “The conditions include investors’ demand to be granted freedom to setting charges for cargo docking at the port. The investor also wants tax exemption on various commodities. The investor also wants to be compensated on business losses incurred during the project execution,” the Tanzania Ports Authority (TPA) director general, Mr Deusdedith Kakoko, told Mwananchi Communications Limited (MCL) in an interview.
The project, which was well pronounced during the late days of former President Jakaya Kikwete, was initially signed in 2013 during an event that was witnessed by Chinese president, Xi Jinping.
It was to be developed by China and Oman’s State General Reserve Fund (SGRF).
