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IPP boss, China seek revival of tyre firm
IPP boss Dr Reginald Mengi. Photo File
By Mosenda Jacob @TheCitizenTZ jmosenda@tz.nationmedia.com
IN SUMMARY
Dar es Salaam. Chinese South to South Corporation traders are set to partner with IPP Group, owned by Dr Reginald Mengi, in reviving the General Tyre East Africa Ltd (GTEA) based in Arusha.
The former regional giant tyre manufacturer has remained dormant since 2009 and the former Tanzania Private Sector Foundation (TPSF) chairman has reached out to China for a possible partnership to revive the factory, which he believes, will serve both the upcoming IPP Automobile Ltd and the East African market.
Speaking during a meeting with over 30 business delegates representing 30 companies from China yesterday in Dar es Salaam, Dr Mengi said to assemble vehicles in Kisarawe, there was a need to have a local factory that would be producing tyres as well.
“Recently we engaged the Youngsan Glonet Corporation from South Korea for a $10 million (Sh23 billion) Automobile factory that will start operations early September, next year, and now I have shared with this (Chinese) group on how we can revive the General Tyre factory in Arusha,” he said.
He revealed also that he was working on a partnership to build a gas pipeline from Dar es Salaam to Kampala in Uganda and construct a Cashew nut plant in Mtwara.
“All these efforts aim at helping the country to industrialise,” he said.
For his part, the chairman of the South to South Corporation, Mr Lyn Xinhua, said his delegation was ready to partner with IPP Group to lend a hand in supporting Tanzania’s industrialization.
IPP boss, China seek revival of tyre firm
By Mosenda Jacob @TheCitizenTZ jmosenda@tz.nationmedia.com
IN SUMMARY
- Tanzanian businessman Regnald Mengi has secured Chinese partner to revive the ailing Arusha based-General Tyre factory.
Dar es Salaam. Chinese South to South Corporation traders are set to partner with IPP Group, owned by Dr Reginald Mengi, in reviving the General Tyre East Africa Ltd (GTEA) based in Arusha.
The former regional giant tyre manufacturer has remained dormant since 2009 and the former Tanzania Private Sector Foundation (TPSF) chairman has reached out to China for a possible partnership to revive the factory, which he believes, will serve both the upcoming IPP Automobile Ltd and the East African market.
Speaking during a meeting with over 30 business delegates representing 30 companies from China yesterday in Dar es Salaam, Dr Mengi said to assemble vehicles in Kisarawe, there was a need to have a local factory that would be producing tyres as well.
“Recently we engaged the Youngsan Glonet Corporation from South Korea for a $10 million (Sh23 billion) Automobile factory that will start operations early September, next year, and now I have shared with this (Chinese) group on how we can revive the General Tyre factory in Arusha,” he said.
He revealed also that he was working on a partnership to build a gas pipeline from Dar es Salaam to Kampala in Uganda and construct a Cashew nut plant in Mtwara.
“All these efforts aim at helping the country to industrialise,” he said.
For his part, the chairman of the South to South Corporation, Mr Lyn Xinhua, said his delegation was ready to partner with IPP Group to lend a hand in supporting Tanzania’s industrialization.
IPP boss, China seek revival of tyre firm
