M a r k e t N e w s
$1.9 billion to be invested in fertilizer plant by Tanzania Petroleum Development Corporation
Posted on : Friday , 19th February 2016
The Tanzania Petroleum Development Corporation has announced that it will invest in a fertilizer plant to be set Kilwa division Lindi district German investors Ferostaal Industrial Project GmbH at a cost of $1.9 billion.
TPDC says it is the government’s plan to support companies investments in the extractive sector with the plant expected to produce 3850 tonnes of fertilizer daily.
TPDC Wellington HudsonAccording to TPDC Director for Production, Processing, Transport and delivery of natural gas Dr. Wellington Hudson who met representatives from Kilwa, Lindi the joint venture will utilize 104 million cubic feet daily and will produce two types of fertilizer namely ammonia and urea.
TPDC through its managing director Dr. James Mataragio adds that the plant will provide 5000 direct jobs as well as opportunities for players in the building and construction industries who will provide the needed raw materials.
The project is also expected to increase earnings for the corporation through consumption of natural gas while at the same time provide opportunities to better sectors such as health, aviation, sea ports among others.
They were both speaking at a familiarization and community awareness tour in Kilwa that saw representatives including the area members of parliament, district commissioners and heads of various committees including security attend with the aim of ironing issues related to the project.
Since the discovery of natural gas in Tanzania the economy has witnessed tremendous growth with 70% of power generation coming from gas which is currently serving 37 industries in Dar es Sallam according to TPDC.
Source : oilnewskenya.com
