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Kikwete says Tanzania is open to Kenyan investors

Discussion in 'Kenyan News and Politics' started by Namtih58, Oct 15, 2008.

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    Namtih58 JF-Expert Member

    Oct 15, 2008
    Joined: Oct 23, 2007
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    October 16, 2008: Tanzania says it has opened up its doors to Kenyan investors interested in putting their money in the country that has chosen to play in the Southern African economic bloc — SADC.

    Speaking in Tanzania’s port city of Tanga on Tuesday where he commissioned a cement manufacturing plant being built by Kenyan firm, Athi River Mining, President Jakaya Kikwete invited Kenyan companies to put their money in Tanzania, saying that the government would ensure the security of the investments.

    The $120 million Athi River Mining cement plant to be built at Maweni in Tanga, about 400km to the north of capital Dar-es-salaam will have a capacity of 4,000 tonnes a day or 1.4 million tonnes a year capacity. ARM has operations in Zambia, South Africa and Kenya.

    While taking advantage of favourable business environment such as good road infrastructure and lower energy costs, ARM intends to have a large section of its produce for consumption in Tanzania while it will also be playing in the export markets.

    Business Daily Africa