According to MEED Projects, the Middle East and East Africa’s leading projects tracker, the value of active projects planned or under way in Tanzania is worth just over USD 100 billion making it one of the largest project markets on the continent.
Recent major off-shore gas discoveries, a booming gold-mining industry, rapidly developing agriculture and tourism sectors, and World Bank commitment to projects worth over USD 3 billion, makes Tanzania an exciting new frontier market for companies looking to establish a presence ahead of the lucrative exploitation of natural gas.
MEED indicated that the largest projects’ sector by some margin is transport, with USD 36 billion worth of active projects, the vast majority of which are in the ports and railway subsectors.
Gas is the next largest sector, with some USD 23.9 billion worth of active projects dominated by Tanzania’s ambitious liquefied natural gas (LNG) export plans, followed by power with USD 16.8 billion worth of projects either planned or under execution.
“Tanzania is one of East Africa’s largest projects’ markets and one of the most easily accessible to international contractors. Tanzania has a long-term vision to attract substantial international investment in its key infrastructure sectors” says Ed James, Director of Analysis at MEED Projects.
“To put it into perspective, the local projects’ market is larger than those of Bahrain, Jordan, Morocco, Sudan and Tunisia, making it a significant new opportunity for contractors looking to expand and diversify in the Middle East and East Africa regions.” James adds.
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