TIC reassures needed support to promising investors

By a Correspondent, Bagamoyo

Tanzania Investment Centre (TIC) has hailed progress made by Agro EcoEnergy Tanzania Limited toward massive cultivation of sugar cane along Ruvu basin in Bagamoyo district, Coast region.

Because of that, the investment agency assured the company and other good performing investors of the government’s prompt assistance should a need arise.

The TIC Acting Executive Director, Mr. Raymond Mbilinyi praised the company on the progress made so far toward the modern cultivation of sugar cane which will see sugar production, electricity and ethanol for running cars produced.

“We are happy on the progress on the ground,” Mr. Mbilinyi said during a visit to the plantation with over 4,000 hectors yesterday.

It is envisaged that 150,000 tons of sugar will be produced annually after the start of production in 2014.  Also expected will be the production of 30 Megawatt of electricity and ethanol that can be used in running of cars.

Of the 30MW; 15MW will be used by EcoEnergy while the remaining one will be used by the surrounding community.

He said the government though TIC will continue supporting such promising investments in the country for the benefit of both parties.

Taking EcoEnergy as an example, he said once the production starts; it will greatly help the country which has the capacity of producing only 60 per cent and imports the remaining.

He said the government works hard to make sure that it attracts investments in sugar and rice plantations because the availability of the two agricultural products in the country will also help stabilize the economy.

“We will help promote and facilitate good investors in agriculture in a win-win situation,” he said.

He noted that TIC would like to see an increase of investments in the country and that the government will make sure that it do away with unnecessary hurdles to investors but at the same time making sure that such investments benefit the country and people of Tanzania at large.

The investment expects to benefit over 300 farmers who will be contracted to cultivate and eventually sell their products to the company.

The Executive Chairman of the company, Mr. Per Carstedt said his company was serious in undertaking large scale sugarcane irrigation farming in Tanzania for local and international market.

“This will help reduce importation rate for things such as sugar and oil,” he said, adding that will be a major contribution for the economy.

He said that his company plans to produce five types of sugarcane and that he was happy for the good progress of the seedlings they are producing.

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