Malawi to benefit from Chinese-funded sea port

Malawi has been earmarked as one of the six regional landlocked countries to benefit from the construction of a major Chinese-funded sea port next year in Tanzania a development that will make the country have an alternative port for its imports and exports.

The other countries to benift from the project are Burundi, the Democratic Republic of Congo-DRC, Rwanda, Uganda and Zambia.

The planned Indian Ocean port at the small town of Bagamoyo is some 75 kilometres (45 miles) north of Tanzania’s economic capital and main port Dar es Salaam.

Tanzania has signed deals for the port with China Merchant Holding International and Oman’s State General Reserve Fund.

Malawi’s State House press office issued a statement to tout the port  following the signing of deals in China, where Tanzania President Jakaya Kikwete visited Sunday.

The statement says the Chinese President Xi Jinping and Kikwete signed the investment deals worth more than $1.7 billion (K850 billion), including one to build a satellite city to ease congestion in the commercial capital Dar es Salaam-deepening Beijing’s ties with East Africa.

Kikwete said during the signing the deal in Beijing that the money will also be used to develop infrastructure, power distribution and business cooperation.

He said the construction would start in July.