Brazilian investors out to alter face of Mwanza city
ippmedia.com
Jun 14, 2022 10:59 AM
MWANZA city residents in hilly areas will soon be relocated to pave the way for Brazilian investors to put up infrastructure for apartments, manufacturing and tourism projects.
City mayor Sima Constantine.
City mayor Sima Constantine said in an interview yesterday that the relocation plan will involve Igogo, Isamilo and Kegoto areas, with the planned investment initially projected to take up 150bn/-.
Investors from the sprawling ancient capital city of Rio de Janeiro had arrived in the city, looking for investment opportunities involving work in the three sectors, to which the city agreed as this initiative will improve infrastructure and tourism,
Other areas they target include building farm produce factories catering for the Lake Zone regions, where road construction and hillside apartments overlooking the lake shores are prominent components of the project plan, he stated.
The development of the Lake Victoria beach area, the Nera neighborhood and a naval police station are other projects, part of a wider zone for investments and tourism, he said, noting that this initiative will support economic growth of the city and individuals, meanwhile as it adds to the scenic beauty of the city.
In the agreement, the city authorities will provide the land and investors will provide the capital and technology, in which case the project, when completed, will benefit both parties.
The city authorities will compensate the residents in the earmarked areas so that they leave to pave way for the proposed investments, with the land clearance and completion of all plans to be done within three months from now, he said.
The Brazilian investors are looking for other places to extend that kind of investment, especially in Dodoma and Arusha regions, he added.