The President of Tanzania, Hon. Samia Suluhu Hassan has met and held talks with the President and CEO of Egyptian multinational company Elsewedy Electric, Ahmed El Sewedy, on 13th August 2021.
The company is part, together with Arab Contractors, of the consortium that is building the 2,115 megawatts Julius Nyerere Hydropower Station across the Rufiji River in the Morogoro region in eastern Tanzania.
During the meeting, Engineer El Sewedy informed President Samia, that the company has also invested in other projects and hopes to invest more in the country.
He mentioned that in the Kigamboni area in Dar es Salaam, Elsewedy Electric has built a factory to produce power cables, transformers, equipment to prevent faults, and power meters, which is expected to be officially opened in December 2021.
In addition, thanks to the favorable investment climate in Tanzania, they have decided to support and invest more by building an industrial area of two million square meters, which includes a fertilizer factory.
Engineer El Sewedy also mentioned that he hopes to invest in modern railway construction, and he will encourage about 50 companies from Egypt to invest in Tanzania.
For her part, President Samia thanked Engineer El Sewedy and assured him that the Government will cooperate in implementing the development projects in a timely manner and informed him that Tanzania is currently reviewing its various laws and policies to create a more conducive environment for trade and investment.
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