INVESTORS from major Chinese energy companies have expressed interest in investing in the increasingly lucrative energy sector in Tanzania.
The investors made known their interest
at a meeting with the Deputy Permanent Secretary in the Ministry of
Energy and Minerals, Dr Juliana Pallangyo, officials from the ministry,
Tanzania Electric Supply Company (Tanesco), State Mining Company
(Stamico), National Development Corporation (NDC) and Energy and Water
Utility Regulatory Authority (EWURA).
Speaking at the meeting, a
representative from an association of Chinese business community in
Tanzania, Lin Zhiyong said the interest of Chinese investors was to
explore opportunities in the energy sector before making decision to
invest.
He said a special delegation of Chinese
investors are expected in the country next week to collect information
on investment opportunities in Tanzania including the Power Sector
Master Plan, investment policies and energy sector strategy before
signing a Memorandium of Understanding (MoU) for electricity generation.
Tanzania is focusing on exploiting its
domestic reserves of natural gas as part of its 25 year Power Sector
Master Plan, to increase installed generating capacity by 6,000MW, with
increases achieved through the development of hydropower, natural gas
and thermal generating capacity in the near to medium term.
The representative said the Chinese
investors were ready to cooperate with local investors in electricity
generation so that the nation gets reliable power which is vital for
economic growth.
Meanwhile, Dr Pallangyo said Tanzania’s
energy sector is fundamentally attractive for investment, given the
country’s growing demand for electricity and available abundant
resources and called on the Chinese investors to grab the opportunities
for win win situation.
“People want reliable electricity which
is stimulant in economic growth, therefore, we welcome you to invest in
electricity generation because we have so many sources for power
generation such as natural gas, geothermal, coal, solar and wind,” she
said.
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