M a r k e t N e w s

$30bn gas plant to boost Tanzania's economy

Posted on : Tuesday, 9th August 2016

Tanzania is planning to invest at least $30bn in the construction of a gas processing plant in Lindi Region, the country's minister for energy and minerals, Professor Sospeter Muhongo, revealed.
 
The new plant will require approximately 200kms of gas pipes from the sea to the plant. According to the minister, upon completion of the project, the government will be able to process gas and thus boost the country's economy.
 
Since the discovery of natural gas in Tanzania, the economy has undergone tremendous growth, with 70% of power generation coming from gas, which is currently serving more than 30 industries in Dar es Salaam. 
 
"I can tell you today that in the few coming years, Lindi and Mtwara will be the country's economic hub. All investors are eyeing the region because of gas and other resources," he said. "I am asking you to get ready for the economic revolution. You must be ready to exploit opportunities. This is your time.” He said the project is likely to take up to 40 months.
 
In addition, a $1,9bn fertiliser factory is on the cards at Kilwa in Lindi Region, which will employ more than 5,000 people and produce at least 3,850 tonnes of fertiliser per day," Prof Muhongo reported. He said the project will be implemented through the Tanzania Petroleum Development Corporation (TPDC) by Minjingu Company and Germany, Pakistan and Denmark-based companies.
 

The project is also expected to increase earnings for the government through consumption of natural gas, while at the same time provide opportunities to improve such sectors as health, aviation, sea ports among others. 

Source : www.bizcommunity.com
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