Railway line to cost over $3bn

WORKS on the anticipated Isaka-Kigali railway line will cost between $ 3 and 4 billion, the Minister of Infrastructure has said. Vincent Karega told The New Times on Thursday that the project’s fiscal study and design are already completed, adding that the project will be funded by, among others, the World Bank and the African Development Bank.“It is a tripartite project that belongs to Tanzania, Burundi and Rwanda because this railway line will link the three countries” Karega said. The minister explained that the existing railway line in Tanzania will first be upgraded before being extended to Mosonga region in Burundi, and later to Kigali. Karega said that appropriate types of trains to be used on the planned railway line have already been identified, adding that efforts are underway to attract more funding from several other multinational banks, such as OPEC Bank. A final resource mobilization roundtable is scheduled next month in Dar-es-salaam, Tanzania, he added.“In order to facilitate the process, we are recruiting some transaction and auditing companies of international calibre that will be transacting and engaging with all the stakeholders,” Karega added. The minister also noted that China has shown interest in financing the project, and that the US government, through USAID, also supported one of the preparatory activities. Ends

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Railway line to cost over $3bn