Kamal Group Managing Director, Mr Gagan Gupta
AT least 200 people will be directly and indirectly employed by Kamal Group of Companies following the inauguration of the oil refinery at Zinga area in Bagamoyo District, Coast Region.
The company has invested a total of
10bn/- to set up the factory that will also be manufacturing furnace oil
and lubricants. According to the company’s Managing Director, Mr Gagan
Gupta, the coming of the factory will save millions of Tanzania’s
foreign exchange currently being spent in importing the products.
“Going by the research that we have
conducted there is no any factory in Tanzania that is currently
producing good-quality of furnace oil with proper technology. This means
that Tanzania will be saving millions of its foreign currency of about
30bn/- which is currently spent on importing the products per annum,’’
he said.
According to Mr Gupta, currently, there
are a lot of dealers in automotive lubricants in Tanzania but they all
import the products from the United Arab Emirates and other countries.
The refinery, according to him, will
have the capacity to produce approximately 27,000 metric tonnes of oil
per annum and about 10,000 metric tonnes of lubricant per annum.
Speaking at the launching ceremony, the
Permanent Secretary in the Ministry of Industry, Trade and Investment,
Dr Adelhelm Meru, said the establishment of the factory was yet another
milestone towards industrial development in the country.
“Our national policies and
implementation plans have put the industrial development agenda at the
forefront with the Long Term Perspective Plan 2011/2012 to 2025/ 2026
providing the overarching strategy linking the five-year development
plan oriented towards achieving the National Development Vision of
making Tanzania a semi-industrialised country by 2025.
The PS added that of the strategies
adopted by the government to stimulate rapid industrialization growth
through industrialization and promote exports through investment and
improving our international competitiveness was the enactment of the
Export Processing Zone (EPZ) Act and the Special Economic Zone Act.
Mr Meru added that the inauguration of
the factory was a clear evidence and testimony of the efforts deployed
by the government in collaboration with the private sector in ensuring
that the country achieves its vision of being a semi-industrialized
nation by 2025.
“It is a clear evidence that the private
sector is now showing the sign of taking the lead in economic
development and our role in the government is to ensure that we create a
conducive environment through development of favourable policies and
provision of first class facilitation services to enable the private
sector to transact business smoothly
No comments :
Post a Comment