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Monday, 01 August 2016

Tanzania: Poland to Finance U.S.$110 Million Tractor Factory

Tanzania has secured a $110-million soft loan from Poland to establish a tractor assembling factory that will enhance the agriculture sector, the government has confirmed. The Permanent Secretary in the Ministry of Industry, Trade and Investment, Dr Adelhem Meru, said the factory, which is expected to be constructed in Kibaha, would take-off before the next financial year. "The construction will start soon and we expect to produce about 2,400 tractors annually for local consumption and sell to other East African countries," he said at the Tanzania- Poland Business Forum that brought together various investors. Dr Meru added that this will be one of the largest factories of its kind in East Africa. "We expect that it will create between 150 and 200 jobs once production starts," he said.

Source: allafrica.com