Browsing: Exxon Mobil

• Tanzania will export liquified natural gas through the pipeline to Uganda
• Tanzania will build several plants along the route for domestic use of the gas
• Uganda plans to use the gas for power generation, especially for its iron mining projects

Tanzania and Uganda signed a deal finalising the 2018 MoU on joint natural gas pipeline construction. Tanzania’s Deputy Prime Minister Doto Biteko and his Ugandan counterpart, Minister of Energy and Mineral Development Ruth Nankabiriwahe, signed the deal on November 9

The 1800-kilometre pipeline will run from Tanzania’s southern regions of Lindi and Mtwara to Uganda’s capital, Kampala. This will be the first trans-border gas pipeline in East Africa and is expected to boost economic growth in both countries significantly. The multimillion-dollar project will create jobs along the construction route in both countries.

No official figures have been made public regarding the project’s total value or where the funding will come …

• The tripling of investment in 2022 is a statement to the world that the East African nation is open for business.
• The success is a straightforward strategic plan from President Samia’s administration since she assumed office in March 2021.

Tanzania Investment Centre (TIC) records show that the year 2022 has made the statement ‘Invest in Tanzania’ hold water. Over the past months, several activities have echoed across multiple fields, including manufacturing, transportation and tourism.

TIC records show that from July to November 2022 there was an increase of 22.2 percent in investment projects (132 registered projects) compared to 102 projects registered during the same period in July to November 2021.

In October, the American firm Moody’s Investors Service changed its status on Tanzania’s outlook from stable to positive, noting that political risks have declined under President Samia Suluhu Hassan’s administration, which concurrently promotes economic development and strong diplomatic ties.

Tanzania’s …