en.Wedoany.com Reported - On April 28, UK-based Standard Chartered Bank announced it had successfully arranged a syndicated financing package totaling US$2.33 billion for Tanzania's Standard Gauge Railway project on the Central Corridor, primarily for key sections undertaken by Turkish company Yapi Merkezi and China Civil Engineering Construction Corporation (CCECC).

Standard Chartered stated that the funding sources encompass various entities including export credit agencies, commercial banks, and multilateral development financial institutions. This capital will be used to construct two segments of the approximately 1,219-kilometer railway line connecting Dar es Salaam, Tanzania's economic hub and port city, with Mwanza, a city on the shores of Lake Victoria. The line is a vital component of Tanzania's national railway network.

The bank indicated that the construction and modernization of the standard gauge railway will effectively link the Port of Dar es Salaam with key economic corridors in western Tanzania and neighboring countries, providing more reliable channels for passenger and freight transport, and is expected to spur economic development in inland regions.

Tanzania is committed to building a central corridor standard gauge railway with a total length of approximately 2,561 kilometers. Lots 5 and 6 are being constructed by a CRCC-CCECC consortium, while Lots 7 and 8 are handled by a China Railway No. 2 Group-China Railway Engineering Design Corporation consortium. The railway is poised to enable future interconnectivity with landlocked countries such as Rwanda, Burundi, Uganda, and the Democratic Republic of Congo, further enhancing logistics efficiency and the level of economic integration in the East African region.

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