The Minister for Industry and Trade Dr Abdallah Kigoda said the compensation exercise is scheduled for completion before the year end.
“The construction is set to follow thereafter and probably early next year,” Dr Kigoda told the ‘Daily News’ at the sideline of opening of Stanbic Kariakoo Sokoni branch on Tuesday.
The logistic hub has been necessitated following the increased trading turnover in Kariakoo market from traders coming from landlocked countries that neighbour Dar es Salaam.Also at current situation, Kariakoo logistic and infrastructure are not allowing expansion. “This opportunity could not be let to pass away,” Dr Kigoda, an economist, said.
The construction of the Sino-Tanzania centre is planned to cost 400 million US dollars (about 640bn/-) and some of the goods would be assembled or manufactured at the hub.Earlier reports show that the government’s agreement with China is to construct the centre through joint venture (JV).
The JV is between Yiwu-Africa International Investment Corporation representing the Chinese government and EPZA standing in for Tanzania government.The agreements include the construction of a state of the art platform logistic centre at Kurasini in Dar es Salaam, which will be the regional business hub serving Tanzania and neighbouring countries.
The hub’s construction is expected to be done in two phases. The first phase for trading platform while the second comprises an industrial park for value addition to agricultural produce, trading centres, wholesale markets, warehouses, exhibition and conference centres.The project which will also be known as the China-Tanzania Logistic Centre will act as the envisaged business hub for East and Central African countries.