52 companies seek to invest in Tanzanian power sector

power grid worldbank flickrTanzanian Prime Minister Kassim Majaliwa has announced that the government has received applications from 52 companies intending to invest in electricity generation projects in the country

He went on to ask Tanzanians in Lusaka to convince their associates in the southern African country to consider investing in Tanzania. Majaliwa had recently returned from Lusaka where he had gone to represent President John Magufuli at the African Development Bank (AfDB) meeting.

“The government alone cannot implement all projects; we need to partner with the private sector, financial institutions and development partners to carry out such ventures,” he said. Regarding the investors in the electricity sector, the premier stressed that reliable power will facilitate setting up of more factories and enable people to engage in economic activities and eventually boost the economy.

He noted that the Fifth Phase Government is expected to encourage investors to build power generation plants to produce power for the national grid to check power shortages. He stressed on the rich energy resources in Tanzania that can be tapped to produce power.

He added, “The discovery of vast reserves of natural gas in some parts of the country has given us more opportunities given the fact that pipelines have been constructed to transport the resource to Dar es Salaam for power generation, industrial production and domestic use.”

The government is said to be currently conducting due diligence on these companies to establish those with required competence after which they will be assigned projects to implement.

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