AVES Group tables interest to establish oil refinery plants in Tanzania

MERSIN: TANZANIA has stepped up efforts to attract investment from Türkiye following an expression of interest by AVES Group of Companies to establish a sunflower and palm oil refinery in the country.

The proposed investment is expected to increase domestic production of the two oils and position Tanzania as a distribution hub for local and other African markets.

The interest was expressed by AVES Group of Companies owner and Tanzania’s Honorary Consul in Mersin, Türkiye, Muhammed İdin, during talks with Deputy Minister for Foreign Affairs and East African Cooperation, Dr Ngwaru Maghembe.

The discussions were held on November 9, 2026, on the sidelines of the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31). Tanzania’s Ambassador to Türkiye, Iddi Seif Bakari, also attended the meeting.

The talks focused on strengthening long-standing relations and cooperation between Tanzania and Türkiye, expanding trade and investment opportunities, and enhancing the role of Honorary Consuls in promoting economic and commercial diplomacy between the two countries.

During the meeting, Dr Maghembe reaffirmed the government’s commitment to improving the investment climate and invited İdin to invest in Tanzania.

He also urged him to use his position and business networks to encourage capable investors to explore opportunities in Tanzania, particularly in strategic sectors that drive economic growth and add value to locally produced commodities.

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For his part, İdin said AVES Group of Companies was ready to invest in Tanzania through the construction of a sunflower and palm oil refinery, noting that the project would help increase production and expand markets for the products.

He further revealed that the company’s Board of Directors plans to visit Tanzania early in 2027 to hold detailed discussions with relevant stakeholders on the investment’s feasibility and implementation procedures.

Commenting on the proposed project, Dr Maghembe assured İdin that the government would provide the necessary support at various stages to facilitate the investment.

He added that the Tanzanian Embassy in Türkiye would continue to coordinate and closely follow up on the proposal to ensure it progresses towards implementation.