TRL Board chairman Mr Severine Kaombwe said: "We are finalising a few things with Tanzania Investment Bank so that the money can be approved hopefully before the end of this year."

"It will be easy to track progress and see the location of the train," Kaombwe said. "TRL will be operating the way airports work."

Kaombwe said the investment would woo more hauliers to transport bulk cargo on the railway amid reports some of the TRL clients are shifting to road transport because of its poor reliability.