Standard Chartered Tanzania signs $1.46bn loan deal for Tanzania rail project
Standard Chartered Tanzania has signed a $1.46bn loan agreement with the Government of Tanzania Ministry of Finance to support the construction of the Standard Gauge Railway (SGR) project from Dar es Salaam to Makutupora.
As per the Tanzania Railways Corporation, the approximately 550km long project would address the congestion challenges and reduce freight service charges by 40%. The railway project, which will have a hauling capacity of up to 10,000 tonnes of freight, will also help in enhancing regional trade by connecting Tanzania to Burundi, Rwanda and The Democratic Republic of Congo (DRC). Click this link for the full story.