India to invest in Tanzania’s energy sector

The government of Tanzania has announced the country has opened its doors to India and its investors to explore opportunities in the country’s energy sector.

Minister of Energy in Tanzania, January Makamba made the announcement and said India has been given the green light to explore investment opportunities available in the energy sector, including the Mnazi Bay North block, an area with potential for gas.

Makamba made the announcement when he met and held talks with the High Commissioner of India to Tanzania, Binaya Pradhan, at the Ministry’s office in Dar es Salaam. The talks were aimed at discussing cooperation between the countries, especially in the energy sector.

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Exploitation

The energy minister noted various opportunities in the area (block) that require immediate investment and urged Indian investors to come forward to work with the Tanzania Petroleum Development Corporation (TPDC) in exploiting them.

Likewise, he said there are vast prospects for investment in solar energy in the area, including the construction of oil single-receiving terminals which are now a major need for Tanzania as these could strategically be used to distribute oil to East and Southern Africa.

“I welcome Indian investors to invest in oil granaries in partnership with the Tanzania International Petroleum Reserves Limited (Tiper) using its already built infrastructure,” said Makamba.

For his part, ambassador Pradhan said the government of India will continue to cooperate with Tanzania, including encouraging its local investors to take advantage of the opportunities available in the country.

He noted that the government is now looking forward to investing in Tanzania in areas of petroleum warehouses, the East African Crude Oil Pipeline (EA- COP) project as well as solar energy projects, including the one in Kishapu district, Shinyanga region.