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Gas, oil raise Mtwara profile

Gas, oil raise Mtwara profile

He said at a Dar es Salaam gathering of Economic and Social Research Bureau on Unleashing growth Potential that as a result, several billions of shillings were expected to flow into Mtwara for investment in the development of associated materials supply, engineering services and logistics support services.

He made reference to the implementation of anchor projects of Mchuchuma Coal-to-thermal power generation as well as the liganga iron and steel complex, which are poised to attract as much as US$ 3 billion.

“An indicative cumulative cash flow from the projects shows that investments will exceed US$ 1 billion after two years and top US$ 9 billion within the first ten years,” he said. He said the region’s middle income market is estimated to exceed 20,000 people over the first ten years. 

However, he cautioned that existing experience both from within the country and outside indicates that such massive investments rarely benefited the people. Already, he said, Tanzania is currently the third gold producing country in Africa. Current total investments in Tanzania gold sub-sector exceed one billion dollars with annual gold export exceeding a billion dollar mark.

On an optimistic note though, he said, the multi-million resource seeking investments can have insignificant redistribution impact to the host national economy unless properly guided to provide forward, horizontal and backward linkages.

He urged that it was pertinent to determine well in advance the requirements for physical infrastructure in order to facilitate the good start and smooth operations of investments and reducing the cost of doing business. He urged that it would be prudent to involve the international investors in determining their needs for skilled manpower as part of a mutually beneficial corporate citizenship plan.

125 billion cubic feet  natural gas produced at Mnazi Bay

MORE than 125 billion cubic feet of natural gas ...

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Author: ORTON KIISHWEKO

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