M a r k e t N e w s

Tanzania: Nigerian Firm Eyes 1.4trn/ - Power Project in Dar

Posted on : Saturday, 1st October 2016

 Lagos — Nigerian company, Egbin Power Plc, has expressed interest to invest 630 million US Dollars (about 1.4trn/-) in construction of a natural gasfired power plant in Tanzania.

 
The major boost to the country's power generation is the newest public-private partnership project expected to turn around the energy sector in the East African nation.
 
Speaking to Tanzanian journalists on a five-day tour of Nigeria yesterday, the firm's Chief Executive Officer, Mr Dallas Peavey, said the construction of the plant is expected to commence anytime after the company, under Sahara Group, has inked the investment pact with the host government.
 
"We plan to set-up two plants, each generating 450 MW....all we are awaiting now are the government approval and Tanesco's (Tanzania Electric Supply Company) proposal," he stated.
 
The key pending issues so far include the plant specifications and the specific location to build the plant. The company management has already visited Dar es Salaam six times, holding talks with senior government officials, including the Prime Minister, Mr Kassim Majaliwa.
 
Other officials met are Finance and Planning Minister, Dr Philip Mpango, Energy and Minerals Minister, Prof Sospeter Muhongo and TANESCO Managing Director, Mr, Felchesmi Mramba. According to Mr Peavey, the investment, if approved, will take 12 months to complete the first phase.
 
"We are interested in power generation. We have the expertise and experience from our operations in the United States of America, Argentina, Africa and Europe," he stated.
 
The CEO, however, decried the government sluggishness in approving the project.

Source : allafrica.com
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