Samia tour in Dubai expo 2022 bear fruits in Geita

ISRA Gold Tanzania Company, which is  owned by investors from Dubai, United Arab Emirates (UAE), has launched a gold refining centre in Geita Region with an approximated net value of  4.2bn/-.

The investment is the result of the visit of President Samia Suluhu Hassan to the UAE in February 2022, where she had the opportunity to tour Tanzania pavilion at the Dubai Expo 2022.

Speaking recently at the launch of the centre located at Lwamugasa Ward in Geita District, the Director of ISRA Gold Tanzania, Mostaq Ahmed said friendly investment policies attracted them to invest in Tanzania.

He said that the centre will process gold concetrates, amounting to 15 tonnes per day, and it will work 24 hours a day.

According to Mr Ahmed, what they did is just an initial investment, adding that their mission is to build five more refineries before the end of this year, and another 10 factories by year 2024, to make a total of 16 factories.

Executive Director of Isra Gold Tanzania, Ismael Van Der Schya assured the residents of Geita of being given priority in employment opportunities, with assurance of about 46 contract jobs.

Tanzania Investment Centre (TIC) Executive Director, Mr Gilead Teri explained said the Dubai-based investor have complied with all investment laws, rules, regulations and procedures, winning an investment certificate from the centre.

“Our role is to facilitate the expansion of the scope of this project, and make the investment plan successful for the benefit of Geita regional residents and Tanzanians in general.”

Geita District Commissioner, Mr Colnery Magembe said that the investment will raise the council’s income, promising to ensure that investors are protected and given appropriate cooperation.

Geita Regional Commissioner, Mr Martin Shigella admitted that President Samia’s visit to Dubai Expo 2022 has opened doors for investors in the mining sector, adding that the region will continue creating favorable and friendly environment for all investors wishing to invest in different sectors.

He said that up to-date about 64 per cent of the gold in the country comes from Geita.

He said the region will continue enforcing the national mining policy and laws, including supervising the mineral markets to ensure a win win situation between investors themselves and the government.

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