Author: JAMES KAMALA
AfricaPress-Tanzania: EGYPT’S Elsewedy Electric has started preliminary preparations for the construction of an electricity tool producing factory worth $15m (over 348bn/-) in Dar es Salaam’s Kigamboni District.
Elsewedy Electric’s Country Representative Ibrahim Qamar said favourable investment policies, a good investment environment in Tanzania, including peace and political stability were among the reasons for opting to invest in the factory which would create at least 115 jobs.
“Good governance, peace and reliable markets were among the reasons for Elsewedy and other investors to opt as a safe place for investing,” Mr Qamar said as he visited Tanzania Investment Centre (TIC) to express his gratitude for facilitating company needs, including land allocation in Kigamboni District at the weekend.
Mr Qamar said the first phase of his company’s $15m investment would be injected into the construction of an electrical manufacturing factory as well as an electrical training college.
The company considers constructing the factory for manufacturing solar and wind power producing machines.
“TIC has done a great job to ensure we invest in Tanzania. We intend to start by constructing a factory for electrical equipment, including meters, wires and transformers. We will also open a college after land acquisition procedures which are in final stages,” said Mr Qamar.
TIC Executive Director, Dr Maduhu Kazi, assured the investor that TIC’s doors were wide open to hear and address any challenges facing investors.
“The doors of TIC are always open, if you face challenges do not hesitate to reach us. This is our job to ensure all challenges facing the investors are addressed,” Dr Kazi said.
