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President Samia Suluhu Hassan has welcomed Italian investors, particularly from the Danieli Group, to explore opportunities in Tanzania’s iron and steel sector. The proposed investment, estimated at 1.5 billion Euros, aims to establish a modern steel manufacturing plant in Mtwara Region, enhancing local resources and creating jobs.
Africa-Press – Tanzania. PRESIDENT Samia Suluhu Hassan has welcomed Italian investors seeking to invest in Tanzania’s iron and steel sector, reaffirming the country’s commitment to promoting strategic investments aligned with national priorities.
According to a statement issued yesterday by the Directorate of Presidential Communications, the development follows talks held between President Samia and the Italian Ambassador to Tanzania, Giuseppe Sean Coppola, at State House in Dar es Salaam.
The ambassador was accompanied by a delegation from Danieli Group, a global leader in steel production technology and engineering, which has expressed interest in exploring investment opportunities in Tanzania.
During the discussions, the delegation presented a proposal to establish a large, modern steel manufacturing plant in Mtwara Region, in partnership with a local investor.
The proposed project, which is still at a preliminary assessment stage, is estimated to cost approximately 1.5 billion Euros (about 4.2tri/-) and is expected to be implemented in phases, subject to further evaluation and investment procedures.
“Tanzania continues to position itself as a competitive and reliable investment destination, supported by our natural resource base, strategic location and ongoing reforms to improve the business environment,” said President Samia.
She pointed out that the government welcomes partnerships that add value to local resources, create employment opportunities and contribute to the country’s long-term vision of building an industrial economy.
President Samia assured the ambassador and his delegation that the government will remain open to credible investors, who bring not only capital but also technology, expertise and a long term commitment to Tanzania’s development.
The statement further indicated that the prospective partnership stems from earlier engagements during the Tanzania-Italy Business and Investment Forum, followed by technical consultations with Tanzanian institutions, including the Tanzania Investment Special Economic Zones Authority (TISEZA) and relevant ministries.
For his part, Ambassador Coppola said the initiative reflects strengthening economic ties between Tanzania and Italy within broader frameworks of development cooperation.
He explained that the interest shown by Danieli Group forms part of wider efforts to deepen bilateral relations, including through Italy’s Mattei Plan for Africa, which aims to promote sustainable and mutually beneficial investment.
He added that Tanzania is viewed as a key partner in this context, noting that discussions remain at an early feasibility stage.
Meanwhile, the Chief Executive Officer of Danieli Group, Giacomo Mareschi Danieli, outlined the strategic factors that have attracted the company to Tanzania.
He cited the availability of resources such as natural gas and iron ore, alongside a growing market and the country’s strategic position within the region.
He added that the company’s approach focuses on long-term partnership, introducing environmentally sustainable modern technology, collaborating with local stakeholders to build skills and fostering lasting industrial capacity.
He said that the current phase is exploratory, with further technical discussions planned to assess the project’s feasibility.
According to the statement, if implemented, the investment could significantly contribute to Tanzania’s industrialisation agenda under the National Development Vision 2050.
Expected benefits include increased domestic steel production, reduced reliance on imports, enhanced value addition to local resources and the creation of employment opportunities, particularly for young people.
Furthermore, the project could strengthen Tanzania’s position as a regional hub for steel production, especially for neighbouring landlocked countries, while also supporting the development of infrastructure and transport networks, particularly in the Mtwara corridor.
Tanzania has been actively seeking foreign investments to bolster its industrial sector, particularly in strategic areas like steel production. The government has implemented reforms to improve the business environment, making the country an attractive destination for international investors. The engagement with Italian investors reflects Tanzania’s broader strategy to enhance economic ties and promote sustainable development through foreign partnerships. This initiative aligns with the National Development Vision 2050, which aims to transform Tanzania into a competitive industrial economy.
