Tanzanians encouraged to invest in natural gas business

DAR ES SALAAM: THE Deputy Permanent Secretary of the Ministry of Energy, Dr. James Mataragio, has encouraged Tanzanians to invest in the construction of compressed natural gas (CNG) stations, noting that the government has created a favorable environment for investors, including issuing construction permits within just one month.

Dr. Mataragio made the call in Dar es Salaam during a visit to inspect the progress of CNG station construction in various parts of the city, including gas refilling stations for vehicles and hospitals.

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Speaking about investment in the sector, Dr. Mataragio said that out of five stations inspected, two are fully owned by Tanzanians, demonstrating strong local participation in implementing the national plan for clean energy use in cooking and transportation.

However, he pointed out that a major challenge facing local investors is the difficulty in obtaining loans from financial institutions, which slows down the pace of station construction. He urged banks in the country not to hesitate to provide loans to Tanzanians interested in investing in clean energy projects, emphasizing that such projects bring both economic and health benefits to the nation.

On his part, the Director of Planning and Investment at the Tanzania Petroleum Development Corporation (TPDC), Derick Moshi, said the corporation is committed to ensuring that CNG services reach all regions of Tanzania. He added that the goal is to accelerate the use of clean energy and reduce dependence on petrol and diesel fuels.