NATIONAL Development Corporation (NDC) said on Tuesday that despite the successful operation, it remains optimistic in developing strategic resources available for the interest of the country.
NDC’s Managing Director, Dr Nicolaus Shombe made the statement during his speech on the implementation of the corporation’s priorities for the year 2023/24, where he said restructuring is endeavoured to ensuring growth in the national economy.
“We are determined to properly utilise the country’s resources by focusing on business to ensure the country is benefitting,” said Dr Shombe.
NDC is supervising eight basic industrial projects (BIP), including three coal projects in Mchuchuma, Katewaka and Ngaka, the Liganda steel project, Magadi-soda in Engaruka, Arusha tire manufacturing factory, the Mang’ula Machinery factory and the spare parts factory in Kilimanjaro (KMTC).
Despite the supervision of the said projects, the corporation is handling three Strategic Value Addition Projects (SVAP) which include Tanzania Biotech Products Limited (TBPL) in Kibaha- Pwani, Dry-Grained Port (ETC Cargo) in Mbagala, rubber farms of Kalunga-Morogoro and kihuhwi in the Tanga Region.
Elaborating on the NDC’s success, Dr Shombe said the development corporation managed to run numerous studies, including the 2011/2015 study in the Liganga and Mchuchuma project which revealed the presence of 126 million tonnes of iron and 426 million tonnes of coal.
“The implementation of the project planned to extract 2.9 million tonnes of iron per year and produce one million tonnes of steel products yearly,” he said.
In addition to that, NDC managed to pay some 15bn/- as compensation to citizens from the two projects where 5bn/- benefitted those at Mchuchuma while those at the Liganga project were given 10bn/-.
He added that by June 30 this year, a total of 1,048 beneficiaries out of 1, 142 were compensated, equivalent to 91.76 per cent.
In addition to payments, the cooperation also managed to obtain a licence for small-scale coal miners where five local mining companies are expected to drill in Mchuchuma in 2023/2024.
Speaking about the Magadi Soda Project located in Monduli in Arusha, Dr Shombe said in recognising the importance of the project, NDC continued to take measures, including acquiring one mining licence where 121,950 US dollars (some 305.5m/-) out of 447,760 US dollars (about 1.12bn/-) of annual rent have been paid.
He added that NDC also registered success, including the approval of compensation books by the Chief Valuer where some 14.5bn/- is expected to be paid as compensations where requests for funds have already been submitted to the Ministry of Finance to ensure payments in the financial year of 2023/2024.
Elaborating on the vision and direction of the cooperation, Dr Shombe said the corporation will improve its ability to prepare bankable projects focusing on mineral studies, making a solid basis for discussion with partners, especially on stock ownership to ensure effectiveness and efficiency.