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Tanzania Government to Bailout troubled Kiwila Coal Mine

Discussion in 'Jukwaa la Siasa' started by LeoKweli, Jun 10, 2009.

  1. L

    LeoKweli JF-Expert Member

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    This Day reported that Government of Tanzania has announced plans to bail out the privatized Kiwira Coal Mine, which has failed to generate the expected 200 MW of electricity despite signing a lucrative USD 271 million power purchase agreement with the public utility TANESCO.

    Mr William Ngeleja minister for energy and minerals Tanzania said that he would unveil a blue-print for the bail out plan in parliament, which starts the marathon budget session next week. But he declined to give specific details of the government’s proposed bail out of the financially troubled Kiwira mine.

    Mr Ngeleja said that Chinese investors who had initially shown interest to pump TZS 400 billion into the mine subsequently pulled out due to controversies surrounding the Mbeya-based mine. He added that “The project has stalled and workers have gone without pay for several months. The government plans to bail out the project to ensure it produces power within the next 18 months.’’

    Kiwira mine was sold in 2005 to a private company formed by ex-president Mr Benjamin Mkapa and his senior cabinet minister Mr Daniel Yona while both were still in public office.

    The privatized Kiwira Coal and Power Company Limited later proceeded to sign a controversial agreement with the Tanzania Electric Supply Company Limited.

    Under the agreement, Kiwira was to generate 200 MW of electricity for the national power grid. However, the company’s production deadline has since spiraled out of control and has only been able to produce a mere 1 MW of electricity.


    Source:Steel Guru : Tanzania government to bail out troubled Kiwira coal mine
     
  2. L

    Limbukeni Senior Member

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    yeah Tanzania Gov to bail in mkapa
     
  3. MwanaHabari

    MwanaHabari JF-Expert Member

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    du kweli tuna wajanja, walitaka tununue Mitambo ya dowans, ikapigwa chini, sasa wanataka ku bail out hii...si mchezo
     
  4. N

    Nyauba JF-Expert Member

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    Mr Ngeleja said that Chinese investors who had initially shown interest to pump TZS 400 billion into the mine subsequently pulled out due to controversies surrounding the Mbeya-based mine. He added that "The project has stalled and workers have gone without pay for several months

    why all these happened and govt no action???

    tunaendekeza siasa au uwezo mdogo wa uongozi?????
     
  5. Mzee Mwanakijiji

    Mzee Mwanakijiji Platinum Member

    #5
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    mimi napendekeza wai bail out kampuni ya Caspian Construction!
     
  6. Selous

    Selous JF-Expert Member

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    Umekosea, i would say Caspian Mining Limited
     
  7. MwanaFalsafa1

    MwanaFalsafa1 JF-Expert Member

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    Ohoo usha wapa wazo mkuu ngoja usikie.
     
  8. Ndahani

    Ndahani JF-Expert Member

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    Mi nilifikiri itakuwa vema kama Logistics Engineering Ltd, mzao wa Caspian.
     
  9. N

    Nasolwa JF-Expert Member

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    Ku-bail Kiwira Coal Mine ni njia mbadala ya kupata mshiko baada ya EPA kukaa vibaya
     
  10. R

    Rwabugiri JF-Expert Member

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    Wakuu msaada, kwa kiswahili chetu, nini maana ya ku-bail? yaani nini hasa serikali inataka kukifanya juu ya kiwira?

    Wakuu mbona hamnijibu? make naona kila anaye andika ni kubail kubail but siilewi vyema, hata kwenye kamusi ya kingereza nimesoma mara bond yaani silipati kabisa, nisaidieni wakuu serikali inataka fanya nini hasa juu ya kiwira?
     
    Last edited: Jun 10, 2009
  11. L

    LeoKweli JF-Expert Member

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    Tatizo hawa watu wamepoteza credibilty kiasi kwamba hata kama wakitaka kufanya kitu credible tunaona yale yale.

    Cha muhimu kabla hawajaweka pesa yoyote kiwira ,question ya Ownership lazima iwe very clear ili tujue kama ni yale yale au they doing it for public intrests.
     
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