New railway line will make East Africa a top investment destination
10 June 2011
East Africa has the potential to become one of the best investment destinations in the world, with a number of infrastructure projects expected to make it more desirable to financiers.
One such project is the East African Community (EAC) railway network, which has been finalised and is set to cost $900 billion (£552.8 billion), African Investor reports.
The money for the project is expected to come from development partners and regional banks.
According to the news provider, the network will include development of a standard railway line between Kampala in Uganda and Mombasa in Kenya, Dar es Salaam to Kigali and Bujumbura.
It will connect local towns and the regions major cities passing through agricultural, mining, tourist and trade routes.
When the project is completed, it will boost trade, tourism, transport, production, investment and development in the region.
The East African recently reported that increased trade between Tanzania and Uganda has resulted in the development of a new $2.7 billion railway line.