DAR ES SALAAM, April 10 -- TANZANIA has finalised a three billion US dollars (7.8 tri/) land lease agreement with a unit of Chinas Hongwang Holding Group to develop a massive industrial hub and anchor the nations ambitious “Vision 2050” economic roadmap.

The Tanzania Investment and Special Economic Zones Authority (TISEZA) signed the 33-year lease with HWTZ SEZ Limited yesterday.

The deal covers 500 hectares, equivalent to 5,000,000 square metres, within the Bagamoyo Eco Maritime City (BEMC), a strategic coastal development aimed at positioning Tanzania as a regional manufacturing and logistics linchpin.

Speaking at the signing ceremony, TISEZA Director General, Mr Gilead Teri said the project is expected to play a signific...