POWERGLOBE discuss investments in Mining and Power industry of Tanzania

Doha, October 3rd.

Her Excellency, Fatma Mohammed Rajab, the Ambassador of Tanzania to Qatar met today with Dr. Theodore Theodoropoulos, Chief Executive Officer of POWERGLOBE QATAR  in Doha. Tanzania nowadays is facing significant energy and power shortage. Out of Tanzania’s 41.5 million inhabitants, so far only 12 percent of urban and 2 percent of rural areas are electrified, which means that less than 10 percent have access to grid-based electricity or other forms of commercial electricity. The national electricity connectivity is about 14%.

During the meeting  Dr. Theodore expressed keen interest of POWERGLOBE QATAR to invest in projects across energy, power generation, mining industry and infrastructure, including energy and waste management. Estimated total investment portfolio is equivalent to 1.3 billion USD. Her Excellency invited Dr. Theodore to meet the President of Tanzania , HE  John Magufuli and the Prime Minister, HE Kassim Majaliwa  at the end of the month in Dodoma to discuss further previously mentioned investment opportunities.

Her Excellency, 
Fatma Mohammed Rajab (Ambassador of Tanzania to Qatar) and Dr. Theodore Theodoropoulos (CEO of POWERGLOBE QATAR)

Tanzania’s energy supply depends mainly on biomass. Since 85-90% of the population are not connected to the electricity grid, the overwhelming majority of households use wood and charcoal for cooking. As a total, biomass makes up close to 90% of the total primary energy consumption in Tanzania. Unfortunately, this leads to the deforestation of 100,000 h per year, of which only about a quarter is reforested. Other energy sources are petroleum, which makes up 7.8% of total primary energy consumption, natural gas (2.4%), hydro-power (1.2%) and coal/peat (0.3%).

POWERGLOBE’s investments in energy sector would not only improve quality of life of the citizens of Tanzania by bringing energy in their lives but also save the forest ecosystem that has been threatened by deforestation caused by  the excessive woodcutting and provide long-term electricity solution.

Sources: Gulf Agencies, QNA, Reuters, Gulf Times, Bloomberg, QGN