CAIRO — President of Tanzania Samia Suhulu Hassan has laid the inspiration stone for the Egyptian Industrial Metropolis within the Kigamboni district on the border of town of Dar es Salaam in Tanzania. The town, as per an Egyptian council of ministers’ official statement, stretches over 2.2 million sq. meters (544 acres) and is about to comprise labor-intensive industries, such because the pharmaceutical, vehicle, textile and agricultural industries.
Ahmed Elsewedy, president and CEO at Elsewedy Electrical, an Egyptian firm, mentioned in statements in the course of the opening of the Industrial Complicated in Tanzania that the group is supervising the implementation of this metropolis, the tasks of the Elsewedy Industrial Complicated and the Julius Nyerere hydropower station, which will probably be constructed on the Rufiji River in Tanzania at a value of $2.9 billion in cooperation with the Egyptian Arab Contractors Company.
Elsewedy revealed the main points of the Egyptian Industrial Metropolis and pressured that town targets investments of as much as $400 million. He famous that town seeks to draw a minimum of 100 traders from numerous international locations within the area, and that greater than 50,000 job alternatives will probably be created for younger individuals.
The laying of the inspiration stone got here after Hassan inaugurated the primary section of the Elsewedy Industrial Complex, which is situated on an space of 120,000 sq. meters (30 acres) and incorporates a number of factories for cables, wires, electrical energy meters and transformers.
Code meters are electrical energy meters that function by a card system and are charged with a stability in an effort to restart the electrical energy.. This sort of trendy counter is a substitute for the invoice counter system.
The advanced can be dwelling to a logistics middle extending over an space of 4,800 sq. meters (1 acre), and is about to supply the mandatory tools for manufacturing and manufacturing in Tanzania. It would additionally present greater than 50,000 job alternatives for younger individuals and can embody a vocational coaching academy for Tanzanian employees to fulfill the worldwide labor requirements. It would additionally function a regional middle for the export of wires, transformers, cables, electrical energy meters and electrical insulators.
The main points of the advanced had been revealed by Elsewedy in the course of the opening of the advanced within the presence of the president of Tanzania and a bunch of officers from the 2 international locations.
Rashad Abdo, an Egyptian financial professional and president of the Egyptian Discussion board for Political and Strategic Research, informed Al-Monitor that the laying of the inspiration stone by Hassan for an Egyptian industrial metropolis is a critical and essential step so far as the financial relations between the 2 international locations are involved.
He famous that town will function an essential step within the discipline of funding for Egyptian and African businessmen in Tanzania and its neighboring international locations.
Through the opening actions of the advanced, Hassan expressed her deep appreciation to Egyptian President Abdel Fattah al-Sisi and the Egyptian businessmen who attended the inauguration to inject investments into the Tanzanian economic system.
“I’ve already met the attending Egyptian firms throughout my last visit to Egypt, they usually have certainly delivered on their promise to me. I promise all of them obstacles dealing with them will probably be overcome,” she mentioned.
She additionally pressured that the opening of the primary section of the commercial advanced, which coincides with the laying of the inspiration stone for the Egyptian Industrial Metropolis, will pave the best way for additional cooperation and funding between the 2 sides.
Hassan despatched a reassuring message to Egyptian businessmen, noting, “Egyptian businessmen ought to be reassured about their funding in Tanzania, and I assure that.”
Abdo mentioned, “It’s a matter of nice financial feasibility for international locations to interact in overseas investments. Each nation on the planet is in search of to extend their exports and investments — each internally and externally — and the inauguration of an Egyptian industrial metropolis in Tanzania will contribute to elevating the Egyptian state’s exports and growing its funding alternatives overseas, which will probably be of nice profit to Egypt. This may assist present laborious foreign money and can elevate the money reserve stability of the Central Financial institution of Egypt. This metropolis will supply job alternatives for younger individuals on each side in addition to funding alternatives for Egyptian businessmen.”
He added, “Overseas investments usually are not solely economically possible, as additionally they have good political and social dimensions and may improve Egypt’s place throughout the African continent.”
Yousry el-Sharqawy, president of the Egyptian-African Businessmen Affiliation, informed Al-Monitor, “There isn’t a doubt that Egypt’s presence in Tanzania and the willingness of the Tanzanian authorities to beat obstacles to the inauguration of an Egyptian industrial metropolis on Tanzanian lands is an encouraging and sensible step towards extra funding alternatives and additional joint cooperation between the 2 international locations. This may profit each events.”
Sharqawy mentioned, “This metropolis will set the stage for a number of ranges of Egyptian and African businessmen in Tanzania, particularly contemplating that Tanzania is an encouraging marketplace for businessmen, as a result of work in Tanzania will serve practically 500 million individuals, which is the inhabitants of Tanzania and its neighboring and adjoining international locations. This helps Egyptian and African businessmen considerably spend money on that metropolis.”
Requested concerning the calls for of Egyptian and African businessmen to spend money on Tanzania and the African continent generally, Sharqawy mentioned, “We want extra incentives within the sector of granting land for the institution of business tasks in Tanzania. The motion of cash additionally must be facilitated, the Tanzanian customs system developed and facilitated. Tanzanian transport and transport ports must be developed and the mechanisms of the Tanzanian economic system generally must be modernized in order to maintain tempo with the digital transformation system that’s now heading to the monetary and enterprise market and the worldwide economic system. Add to this the promotion of many encouraging funding alternatives, be it for the Egyptian or African investor generally.”
Requested concerning the particulars of the dam venture, Egyptian Minister of Housing Assem el-Gazzar revealed throughout his go to to the dam site that Sisi attaches particular significance to the Tanzanian dam venture. He declared that the venture goals to build a dam with a size of 1,025 meters (0.6 miles) on the summit and a top of 131 meters (430 toes) with seven water shops. The dam’s lake has a storage capability of 34 billion cubic meters, and it features a hydroelectric energy station with a capability of two,115 megawatt. The station is situated within the Selous Sport Reserve on the facet of the Rufiji River in Morogoro area, southwest of Dar es Salaam.
Maj. Gen. Mahmoud Nassar, head of the Central Company for Reconstruction and head of the Comply with-up Committee for the project, revealed that the venture employs about 9,000 employees — 8,000 native Tanzanian employees and 1,000 Egyptian and overseas employees — and makes use of greater than 1,400 items of apparatus.
He pressured that the implementation of the river diversion tunnel — 703 meters (0.4 miles) lengthy, 12 meters (39 toes) vast and 17 meters (56 toes) excessive — was accomplished in November final 12 months, and that the 2 sides held the Egyptian-Tanzania Enterprise Discussion board in Tanzania to debate funding alternatives and joint cooperation.
