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Tanzania To Get $1.06B Loan For Pipeline

China will sign a deal with Tanzania to lend $1.06 billion to build a natural gas pipeline.

China will sign a deal with Tanzania to lend $1.06 billion to build a natural gas pipeline, Reuters reports, citing The Guardian. Of the total funding, $300 million will be used to construct processing plants at Mnazi Bay.

The venture will boost gas supply and minimize power supply problem in Tanzania. The China Petroleum and Technology Development Co. and state-run Tanzania Petroleum Development Corp. will carry out the government-owned project, which will commence in December 2012.

Click here for the story from Reuters.

Click here for additional coverage from Bloomberg.

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