During a meeting with Tanzania Vice President Mohammed Gharib Bilal during the Africa Global Business Forum in Dubai, Aliko Dangote, President of Dangote Group and Africa’s richest man, announced plans to invest an undisclosed amount in Tanzania coal production at the Mbinga mine in Southwest Tanzania.
Speaking at the Africa Global Business Forum, Mr. Dangote congratulated Tanzania for their favorable investment policies that support the economic growth and development of the country.
“I am sure the southern part of Tanzania will automatically change in terms of economic prospects due to investments in the area,” he said.
Investment in the Mbinga coal mine will directly benefit the Mtwara cement plant, which is owned by the Dangote Group and is currently under construction.
Coal from the Mbinga mine will eventually power the cement plant and will facilitate the transportation of cement to neighboring countries.
Upon completion, the Mtwara cement plant is projected to produce 3 million tons of cement per year and create approximately 3,000 new job opportunities in the Tanzania transport sector.