TZ Investment Projects14 Apr 2022 13:08
https://allafrica.com/stories/202204140202.html
Even more demand....
"The Tanzania Investment Centre (TIC) announced on Wednesday that it has approved 85 investment projects between January and March this year, creating 12,191 job opportunities for Tanzanians.
TIC Executive Director, Dr Maduhu Kazi said in Dar es Salaam that the centre has registered impressive success in mobilising investment finances during the last three months and improving the image of Tanzania as a country to invest in.
He was presenting the centre's operations report on the third quarter (January-March 2022) of the fiscal year that started in July 2021. "In January-March 2021, we approved 51 projects, which we are told have created 4,772 jobs.
During the same period this year we have approved 85 projects.
This is a 66.7 per cent increase com- pared to the work we done in similar period last year," Dr Kazi said
"This year's projects are projected to yield 12,191 job opportunities representing an increase of 155.47 per cent.
The 85 projects have a total value of 787.40 US dollars, while last year's 51 projects had a total value of 450.56 US dollars.
This year's project value of 787.40 US million dollars represents a 74.76 per cent rise in our performance," he added.
Dr Kazi also talked about four projects he described as important in strengthening the national economy and creating jobs.
The first project will be oil-to-gas project that will be executed by the Taqa Arabia Tanzania Limited and is expected to create 160 jobs.
It will produce gas for use by private, passenger, and heavy- duty trucks that are currently using petrol and diesel.
"The company will build 12 conversion centres in Dar es Salaam, to enable vehicles to switch from oil to gas. Two big centres will be completed between April and June, this year, and the project will have a 700,000-kilogramme annual gas production capacity," he explained.
Alotaib and Blak Bib Company Limited and Prime Cement are implementing two cement projects valued at 113 US dollars. The projects are expected to produce 1,079,500 tonnes of cement a year and are projected to produce 1,097 direct jobs.
The third is an 11-million US dollars joint venture project between Tanzania and Canada which will set up an assembly plant in Kigamboni for HOWO vehicles. It is expected to yield 320 direct jobs and will assem- ble 3000 units a year.
The fourth will be edible oil project, valued at 42.68 million US dollars which will be executed by Organo Africa and it is expected to produce 700 direct jobs, with an annual production capacity of 182,000 tonnes."
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