Over two million tons of cement are now to be produced every year, thanks to a massive investment by a Nigerian tycoon, Aliko Dangote through the Tanzania Investment Centre (TIC).
TIC Acting Executive Director, Raymond Mbilinyi made the revelation at the weekend during his tour to the production plant in Mtwara. He says the investment will create over 400 jobs and help boost the Southern region’s economy and the whole country at large.
Expounding on the project, said to be up and running in eighteen months, Mbilinyi said that apart from creating employment, the factory will stimulate trade and create a multiplier rippling effect to the entire economy.
“Statistics show we had cement deficit of one million tons in 2011…” the acting director said hinting on the highly profitable and growing construction industry. He noted that the conducive investment climate created by the government in collaboration with the private sector is fueling Tanzanian development.
Mtwara Regional Commissioner, Joseph Simbakalia commented on the regions reception of the plant saying it was ‘welcomed’ and that it adds up to Mtwara’s contribution to the nation’s coffers.
Simbakalia said the region has a lot of investment potential yet to be utilized and called for more investors to take advantage of these opportunities. He expressed recognition of government help through the TIC.
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