MINISTER MAKAMBA CALLS ON INDIA TO INVEST IN ENERGY SECTOR


MINISTER MAKAMBA CALLS ON INDIA TO INVEST IN ENERGY SECTOR

By Janeth Mesomapya

Minister of Energy, Hon. January Yusuph Makamba has called upon the Government of India and its local investors to visit Tanzania and explore and invest in opportunities available in various areas of the energy sector including the Mnazi Bay North block.

Minister Makamba made the remarks on Wednesday, January 5, 2022, when he met and held talks with the High Commissioner of India to Tanzania, Hon. Binaya S. Pradhan at the Ministry's office in Dar es Salaam. The talks were aimed at discussing secctoral cooperation between the countries.

He noted that there are opportunities in the block that require immediate investment and Indian investors should come forward to work with the Tanzania Petroleum Development Corporation (TPDC) in utilizing them.

Likewise, he said, there are vast prospects for investment in the area of solar energy and the construction of oil single-receiving terminals which are now a major need for Tanzania and can be strategically used to distribute oil to East and Southern Africa.

"I welcome Indian investors to invest in the opportunities of oil granaries in partnership with the Tanzania International Petroleum Reserves Limited (Tiper) using its already built infrastructure, significantly by improving the infrastructure," he said.

For his part, Ambassador Pradhan said the Government of India will continue to cooperate with Tanzania, including encouraging its local investors to take advantage of the opportunities available in the country.

He noted that the government is now looking forward to investing in Tanzania in areas of petroleum warehouses, opportunities from the implementation of the East African Crude Oil Pipeline (EACOP) project as well as solar energy projects, including the one in Kishapu district, Shinyanga region.

"Our government in collaboration with the private sector is committed to continuing to invest in various development areas around the world, including in Tanzania," he added.