Egyptian El Sewedy Industrial Development company announced the creation of El Sewedy Industrial City in Tanzania with an area of 2.6 million square meters, State Information Service of the North African country reported.
The city will be situated near the Tanzanian city of Kibaha, the media said. There is also the "Rovos" Standard Gauge Railway (SGR) next to the future industrial city location, which connects Tanzania's city of Dar es Salaam and the country's Kwala Dry Port, the report noted.
In addition, the East African state will benefit from about 200 factories of the industrial city in various sectors, including medicine, food and beverage industries, engineering and others, as well as from the El Sewedy Academy for Technical Education and Vocational Training, which will provide the locals with a chance to acquire new skills, the agency revealed.
According to the media, the city's goal is to attract over $400 million worth of investments from all over the region. Moreover, the city aims to support Tanzania's industrial development and to facilitate the implementation of the country's industrial development strategy 2025 as well as to create more than 50,000 job opportunities.
Chairman of El Sewedy Industrial Development Mohamed Al-Qammah underlined that the first construction stage of the city, which concerns an area of around 500,000 square meters, is expected to be finished in a year.
Furthermore, El Sewedy Electric East Africa Regional Director, Ibrahim Qamar highlighted the importance of El Sewedy Electric’s in investing in Tanzania, the agency noted.
Cooperation between the East African state and the company dates back to 2018, according to the media. As for the enterprise's most significant project in the country, it is the construction of the Julius Nyerere Hydropower Plant and Dam, the largest hydroelectric power station in the history of Tanzania, the report said.
The GAFI hosted the "African Investment Forum - Egyptian Industries on Tanzanian Land" in Cairo on November 5-11.
Tanzania raises investments via enhancing partnership with enterprises from different Arab countries. In October, the United Arab Emirates multinational logistics company DP World won a bid to operate part of the Dar es Salaam port and will allocate over $250 million to its development.