Freight charges in Tanzania will reduce by 40 percent when the Standard Gauge Railway (SGR) becomes operational, a top bank official has said.
The modern railway will also be able to pull up to 10,000 tonnes of freight, equivalent to 500 lorries, per trip.
“Through connecting Tanzania with Burundi, Rwanda and Democratic Republic of Congo (DRC), it would improve regional trade,” said Sanjay Rughani, the CEO of Standard Chartered Bank Tanzania.
He told the bank’s clients and business stakeholders here on Tuesday evening that the multi-million-dollar project has already created more than 8,000 direct jobs to the locals.
Mr Rughani, who led a team of senior bank officials to the northern regions, hinted that SGR will have a positive impact on the country’s economy in the next 200 years and more, adding.