SAUDI PRINCE AL SUDERY KEEN ON INVESTING IN OIL IN TANZANIA

DAR ES SALAAM, PRINCE Ahmed Al Sudery of Saudi Arabia has assured the Tanzania government of continued friendship between the two countries and its readiness to invest in various sectors, including the construction of crude oil refinery factories in the country.

Prince Sudery made the revelation in Dar es Salaam during his visit to the Tanzania Ports Authority (TPA)'s oil terminal. Prince Ahmed who was accompanied by other delegates from Saudi Arabia said that the tour to TPA was meant to explore various investment opportunities, including the construction of crude oil refinery factories.

"Tanzania has a lot of resources and investment opportunities, but the main aim of our visit is to explore the opportunities on crude oil refinery in the country. We assure the Tanzania government that our plan to construct crude oil refinery factories will bring a lot of changes in economy sectors in the country," he said.

He added that Tanzania and Saudi Arabia's friendship targets more in boosting the economy of two countries by sharing technologies and linking investment areas that would help to achieve the goals of being industrial countries. "We visited TPA in order to conduct a visibility study to know the areas of investment especially in oil industry.

"We are also here to maintain our economic changes within the two countries," he noted. Prince Ahmed thanks the Tanzania government for its commitment to ensure investors are well attracted to invest in the country due to its resources and its friendship to other countries.

Acting Port Manager, Freddy Liundi, said that the tour of Prince Ahmed Al Sudery to TPA will bring many positive changes, especially in the oil sector as they plan to construct crude oil refinery factories that would help to reduce costs of oil in the country.

"They visited TPA in order to look for investment opportunities, especially the construction of crude oil refinery factories and to see the opportunity of investing in oil and gas in Mtwara and Lindi," Liundi said. He said that they were happy to see investors who would bring cruel oil refinery factory in the country where it would help to provide employment opportunities, reduce the costs of oil since Tanzania has been their own crude oil refinery industries.

He called upon the Tanzania government in general to ensure they continue to maintain peace and security in order to attract more investors in the country, who will invest in various sectors for the development of all.

TPA Oil Terminal Engineer, Eng Joseph Mtenga, said that existence of a crude oil refinery factory in the country would help to reduce cost and to increase national income. "We are happy to see plans are underway to construct a crude oil refinery in our country. This is a good stage to achieve goals of Tanzania being an industrial country," he explained.

Source: NAM NEWS NETWORK