M a r k e t N e w s

Tanzania: Chinese Investors to Set up $100 Million Tile Factory

Posted on : Monday, 18th July 2016

Mkuranga — Chinese investors are will invest $100 million (about Sh218 billion) to set up a factory that will manufacture roofing tiles in the country, Prime Minister Kassim Majaliwa heard on Wednesday.

 
Goodwill Ceramic Limited will start constructing the factory in December this year at Mkiu village, Mkuranga District in Coast region, according to the Chinese Ambassador to Tanzania, Dr Lu Youqing.
 
"With the investment, the company will be able to produce 800,000 roofing tiles per day and thus it will significantly reduce the importation of such products from abroad," Dr Youqing told Mr Majaliwa during his (Mr Majaliwa's) two-day tour of industries in the Coast Region on Wednesday.
 
When the factory becomes operational, said Dr Youqing, the Government of Tanzania will generate Sh30 billion every year in form of various taxes.
 
The roofing tiles from the factory will be distributed within Tanzania and in all the member states of the East African Community, according to the Goodwill Ceramic Limited chief executive officer, Mr Frank Yang.
 
Some 1500 Tanzanians will be directly employed at the factory when it becomes operational while over 3 000 more will acquire indirect jobs.
 
"Our aim is o play a role in the endeavour to turn Tanzania into an industrialised nation as outlined in the country's Development Vision 2025," he said.
 
The company, he said, also intends to set up a total of seven factories in several African countries including in Tanzania.
 
In his remarks, Mr Majaliwa said the government believes that creation of industries is the best way to go towards the goal of alleviating unemployment in Tanzania.
 
He said the government will continue to support the private sector and ensure that it (businesses) get all the necessary infrastructure so as to achieve the goal of turning Tanzania into a middle income country by the year 2025.
 
The Mkuranga legislator, Mr Abdallah Ulega hailed Goodwill Ceramic Limited for choosing his place as one ideal for the construction of such a project.

Source : allafrica.com
Featured Companies
  • /
  • African Business Development Association
  • /
  • TITAN Containers A/S
  • Mercury Tube Products
  • SMES Today Magazine
  • DOOREE INTERNATIONAL CO LTD
  • africabusiness.com
  • Your Banner HERE!

Complete List  

Advertisers:

Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2022 Afrotrade