In a groundbreaking achievement, the Tanzania Investment Centre (TIC) has successfully sealed performance contracts with ten strategically significant projects, underscoring the government's dedication to creating a conducive investment environment and stimulating growth across various sectors.
The highly anticipated signing ceremony, held in an esteemed venue, marked a pivotal moment for Tanzania's investment landscape. Government officials, distinguished guests, and representatives from the selected projects congregated to witness this momentous occasion, showcasing TIC's crucial role in attracting and facilitating key investments that will drive the nation's economic transformation.
Among the ten remarkable projects that have secured performance contracts, the Sinotan Industrial Park Project stands out prominently. Nestled in the Kwala region, the project is poised to emerge as a thriving industrial hub, housing over 200 industries upon completion. With an impressive investment estimated at USD 327 million, this ambitious endeavor is projected to create a substantial 2,000 direct jobs and a staggering 50,000 indirect jobs, significantly bolstering employment opportunities and catalyzing economic growth.
Another notable project is the Kilombero Sugar Project, situated in the picturesque Morogoro Region. Designed to expand sugar cane farming and production capacity, this venture commands an investment worth USD 238.5 million. Its successful implementation will generate an estimated 1,404 direct jobs and 15,000 indirect jobs, while the increased sugar production capacity of 271,000 tons annually will reduce the nation's dependence on sugar imports.
Turning the spotlight to the WILMAR Project, located in Kihonda, Morogoro, this transformative initiative centers around grain processing. With a substantial investment of USD 51.5 million, it is set to create 360 direct jobs and 1,000 indirect jobs. The project's daily processing capacity of 1,150 tons of paddy will not only decrease the country's reliance on rice imports but also contribute an estimated USD 50 million per year through rice exports.
In addition, the ongoing expansion of the Lake Cement Production Factory in Kigamboni, Dar-es-salaam, secured its place among the remarkable projects. The project, which has already invested approximately USD 101 million, will witness an additional infusion of USD 26 million, bringing the total value to USD 127 million. This expansion effort will generate 401 direct jobs and an estimated 450 indirect jobs, while catapulting the annual production capacity to an impressive 1,000,000 tons.
Another project making waves is the Oilcom LPG Gas Processing and Infrastructure endeavor in Dar es Salaam. With a substantial investment of USD 111.87 million, this transformative project will revolutionize gas storage and processing capabilities. Creating around 1,600 direct jobs and generating a staggering 160,000 jobs within the value chain, the project's increased gas storage capacity of 15,000 tons will pave the way for cleaner, eco-friendly energy sources and benefit various sectors including education, healthcare, and hospitality.
In the heart of Manguanyuki, Singida, the Wild Flower and Oil Mills Project promises to make a significant impact on edible oil processing. With a total investment of USD 24 million, this venture will create 190 direct jobs and 400 indirect jobs. Boasting a daily production capacity of 75 tons of oil, the project will significantly reduce the country's reliance on imported oil.
The Mufindi Paper Mills Project, centered in the Kigoma region, represents another significant project on the list. With a budget of USD 320 million, this venture focuses on sugarcane farming and sugar production. The project's anticipated capacity to produce 340,000 tons of sugar annually will substantially reduce Tanzania's dependence on imported sugar, while creating 3,000 direct jobs and 2,000 indirect jobs.
The performance contracts also encompass the Lodhia Steel Project, located in Mkuranga, Coast Region. With an investment of USD 45 million, this project will produce roofing sheets to meet local demand. It is set to generate 400 direct jobs and 150 indirect jobs, enhancing the industrial sector and contributing to the nation's economic growth.
Furthermore, the prestigious Masterful Investment status has been bestowed upon the Dangote Cement Project in the Mtwara region and the Mount Meru Millers Project in the Singida region, solidifying their significance as key contributors to Tanzania's economic prosperity.
The Tanzania Investment Centre (TIC) remains unwavering in its commitment to provide seamless cooperation, expedite service delivery, and ensure timely implementation of these transformative projects. With each milestone achieved, Tanzania inches closer to unlocking its immense investment potential, empowering local communities, and charting a prosperous future for the nation.