Kikwete woos Canadian natural gas, fertilizer production investors

 Tanzania still needs some serious investors in fertilizer production and natural gas due to comparative market advantages which are available.

President Jakaya Kikwete

President Jakaya Kikwete, speaking at a Business Breakfast with Canadian Chief Executive Officers, said countries like Kenya have already ordered 1,000 Megawatts of electricity soon after the country starts producing power from the natural gas.

“We expect to produce about 3,000 Megawatts from natural gas towards the end of this year or early next year. We are inviting you to invest in power stations to enable us produce more electricity to meet the high demand,” President Kikwete said.

According to President Kikwete, Tanzania has a huge portion of virgin territory which has not yet been tilled, and use of fertilizer could make it produce enough food for its people and export.

President Kikwete insisted that the cooperation between Canada and Tanzania should now be fostered in trade and investment towards sustainable development. In the past, said President Kikwete, the two countries established mutual cooperation that saw Canada helping Tanzania in social development activities that improved water supply, health and education sectors.

Canada leads with the highest number of foreign companies that have invested in Tanzania, especially in the mining and natural gas sectors, thanks to conducive investment opportunities that include peace.

The President also persuaded Canadians to come and invest in the liquefied natural gas (LPG) to enable city and town dwellers start to benefit from such services that can save and preserve forests. In Dar es Salaam alone, over 40,000 huge bags of charcoal are used every day.

Speaking about the railway line improvement, President Kikwete said over 4 billion US dollars was needed to improve the sector which would eventually increase efficiency and save roads from unnecessary destructions. He said such a project needs partnership with the private sector for its effectiveness.

Speaking at the meeting, Canada’s Head of Mission to Tanzania Mr Alexandre Levique thanked President Kikwete for creating conducive environment for foreign investors.

Source: Tanzania Daily News