Dr Meru told reporters at the industrial site that construction of the factory, the first of its kind in Tanzania, was in the final stages, with official opening of production expected soon.
The lubricant factory brings to two the number of operational factories at Tanzania’s first privately owned and the largest Special Economic Zone (SEZ). The gas plant was the first to open for business at the estate recently.
“There are lots of encouraging developments taking place here and within the next two weeks, we will be launching another factory to manufacture lubricants,” Dr Meru told reporters who visited the site over the weekend.
The industrial estate, about 40 kilometres from Dar es Salaam, is undergoing massive infrastructure development to accommodate many more industries in transformer manufacturing, oil refinery, steel plant, sugar industry, pulse and grain processing as well as assembling plant for two wheeler vehicles. The multi-billion shilling Steel Plant by Kamal Group itself is scheduled to open for business in the next few months.
“It will be a massive investment of 300 million US dollars (about 500bn/-), with annual production capacity of 700,000 tonnes of steel,” said Dr Meru, whose authority regulates and promotes investments under SEZ and Exports Processing Zones. The steel plant is also expected to stimulate value addition to local products, said Kamal Group Chairman Gagan Gupta.
Mr Gupta said through increased exports, the country's foreign exchange earnings will rise, "This is a vital step towards improving the country's trade deficit. Investors at the site will also bring with them technology which Tanzania badly needs." In June 2010, President Jakaya Kikwete laid down the foundation stone of the country’s largest SEZ, which has a potential of creating 25,000 direct jobs and employing over 1,000,000 people indirectly when operating at full capacity.