Foreign Investors Appetite for Tanzania Energy Sector Grows

June 25, 2013 5:35 pm0 comments by:

Hon. Professor Sospeter M. Muhongo, Tanzania Minister of Energy and Minerals

NEWCASTLE—As Global investors seek opportunities to invest in Africa, the appetite to invest in Tanzania Energy industry has increased; largely reflecting the discoveries of huge gas resources and the positive economic outlook.

In the past week, the Tanzanian energy market has gained the attention of more investors; including one of America’s corporate giants- General Electric (NYSE: GE) which announced that they have formed a partnership with Symbion Power Tanzania to invest $1 billion in  a 400 MW natural gas-fired power plant in  Mtwara , Tanzania.

In another win for Tanzania, Geothermal Power Tanzania Ltd is gearing up to invest up to $350 million drilling of steam fields in the south of Tanzania  where it will  build its first geothermal plants with the capacity to generate up to 140 megawatts by 2018.

Meanwhile, although there have been some concerns over the final version of Gas & Oil policy, which is imminently due for approval by the parliament, Tanzania remains an attractive spot for energy investments. The Government’s continued commitments to make energy investments as part of its top priority, have given analysts in the industry more confidence and  they continue to believe that  significant investment will continue to flow to the country, as global investors are keen to tap the new opportunities offered by the Tanzania’s energy sector.

Moreover, capitalizing on these emerging opportunities, Tanzania is set for the Second Tanzanian Oil and Gas Conference, which will be held at Mwalimu Nyerere International Convention Centre on 23rd – 24th October 2013 in Dar es Salaam, featuring a series of panels that will address key Tanzania Oil & Gas industry developments and challenges.

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