DAR ES SALAAM, Jan. 14 (Xinhua) -- Tanzania and Rwanda on Sunday agreed to construct a 400-kilometer standard gauge railway line from Isaka to Kigali in efforts to connect Rwanda, the landlocked east African country, to the Dar es Salaam port.

Tanzanian President John Magufuli told a news conference in Dar es Salaam after talks with Rwandan President Paul Kagame that the construction of the railway line will be jointly financed by the two countries.

"We have directed ministers of foreign affairs from the two countries to meet next week to start charting out the financing model," said Magufuli.

"We want the construction of the railway line to start immediately because the feasibility studies and all other preparations are complete," said the Tanzanian leader.

Tanzania has already started construction of the standard gauge railway in two phases from Dar es Salaam to Morogoro covering 330km, and from Morogoro to Makutupora in Dodoma covering 426km, using locally sourced funds to the tune of about 3 billion U.S. dollars, according to President Magufuli.

"Both President Kagame and I have agreed to look for loans to speed up the construction of the railway line," said Magufuli.

Magufuli added that Tanzania fully supported president Kagame's candidacy for the AU chairmanship.

"I am happy to work with president Magufuli and other African leaders. They have given me these responsibilities because they are ready to give me support to enable me accomplish my tasks," said Kagame.