Africa-Press – Tanzania. ZANZIBAR’s historical Malindi port is scheduled for massive transformations under the envisioned 500 million US dollar (over 1.1tri/-) project whose master plan and feasibility study were inked here on Thursday.
President Hussein Mwinyi witnessed the pact signing between the revolutionary government and Oman Investment Authority (OIA) at a brief ceremony held at Vugabased State House.
Speaking soon after the deal, Dr Mwinyi reiterated the government commitment to create conducive environment for investors, citing Zanzibar’s five-year investment plan, which embraces the private sector as the engine of economic growth.
“The government has the responsibility to put in place all the facilities that support smooth investment drive; but all projects with high productivity will be executed by the private sector,” he said, imploring more prospective investors to explore business opportunities in the Spice Islands.
President Mwinyi said under the newly signed deal, Malindi port will be transformed from a cargo port to tourism city, with new amenities to attract visitors.
“…this is one of our strategic projects, which once executed, will fast track the country’s economic development.” Permanent Secretary in the Ministry of Works, Communications and Transport Amour Hamil Bakari and Sheikh Nasser Al Harthy signed the documents for the Zanzibar government and OIA, respectively.
Zanzibar Ports Corporation Director General Nahaat Mahfoudh and OIA Africa Regional Chief Executive Officer Mohamed Al-Tooqi also signed for their respective institutions.
President Mwinyi explained that the plan behind the massive project is to transform Malindi area into the tourism hub, with the entire area stretching to Bwawani Hotel beatified with imposing entertainment, hotels and residential buildings. He said some part of the Indian Ocean will be reclaimed to increase the project area to about 30 hectares.
Mr Al Taooqi assured that the investment authority will ensure the project is a great success and delivers to its intended goals. The OIA, a multibillion dollar government organisation with large investments in the Sultanate of Oman and 35 countries, globally, had in January 2021 signed a memorandum of Understanding on the construction of a multi-terminal port at Mangapwani suburb in Unguja.
The project involves construction of the multi-terminal port and satellite city on the 180 hectares. The city whose 10 per cent will be for commercial uses is projected to accommodate 50,000 inhabitants.
The government, through the project, aims at transforming Zanzibar into East and Central Africa’s commercial and tourism hub through construction of essential economic infrastructure. Under the all-inclusive Mangapwani project, Zanzibar envisages huge and modern port with various terminals for containerised and general cargo; fuel; fishing vessels; oil and natural gas.
Besides the fishing related facilities, the project will have industrial infrastructure and maritime training institutions, which will facilitate the country’s blue economy drive.
Zanzibar government has opted for the ocean—based activities as the engine of its economic growth. Under the blue economy, the country will pursue deep sea fishing, fish processing, fish farming, exploration of oil and gas, among other economic undertakings.
For More News And Analysis About Tanzania Follow Africa-Press
