AfricaPress-Tanzania: EGYPTIAN investor, Elsewedy Electric, will invest about 120bn/- on electrical appliances factory which will initially create 400 jobs for Tanzanians.
Elsewedy Electric Company Director for Eastern and Southern Africa Engineer Ibrahim Qamar, who is an Egyptian, said the factory would start operations early June this year, adding that it had already started constructing factory buildings.
Mr Qamar acknowledged that favourable investment policies, a good investment environment in Tanzania, including peace and stability were reasons behind their readiness to invest in the factory.
“We are investing about $50m (equivalent to 116bn/-) in Dar es Salaam’s Kigamboni District after securing 30 hectare with support from the government,” he said.
He noted that good governance, peace, a favourable geographical position and reliable markets were among the reasons for Elsewedy Company to opt for Tanzania as a safe place for investing in the industry which would serve East and Southern African markets.
Mr Qamar said the factory, among many products, would produce 1,500 tonnes of electric wires and cables a month (18,000 tonnes a year).
The company will also manufacture about 400 transformers a month (4,800 a year).
He said other products to be produced included smart metres, digital valve controllers (DVCs) and transformer tanks, where apart from creating jobs, the new factory would concurrently, adopt robot technology.
The company will as well introduce a vocational training centre on the factory’s premises for knowledge transfer to Tanzanians, Mr Qamar highlighted. The vocational college will also train manpower to feed the industry’s production needs.
For his part, Tanzania Investment Centre (TIC) Executive Director, Dr Maduhu Kazi, assured the investor that TIC’s doors were wide open to hear and address any challenges by prospective and current investors and that they should never hesitate to reach TIC offices.
“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 investors are addressed as soon as possible,” Mr Kazi said, commending the investor’s new robot technology, saying it would be the first of its kind in the country.Tanesco Managing Director, Dr Tito Mwinuka, assured the investor of the market when production starts.
He said the national power utility had embarked on the domestic market for projects of connecting thousands of new customers, therefore, there was no worry on the marketability of the investors’ products.
Mr Qamar also said that this was not the end, as the factory was ready to expand its investment in the future depending on market needs.
