Minister of Minerals, Hon. Mavunde, has said that Tanzania is positioning itself to become a hub for the production of goods and services in the mining sector for the countries south of the Sahara Desert by attracting investments in mining product manufacturing and service provision both domestically and internationally.
Hon. Mavunde made these remarks today in Dar es Salaam during the launch of a sales warehouse for large machinery spare parts and mining equipment, which is a joint venture between Shan Parts Africa from India and ITR from Italy.
"I commend Shan Parts and ITR for their decision to invest in Tanzania in the area of large machinery spare parts and mining equipment." he said .
The availability of this service in the country will significantly reduce the importation of spare parts from abroad and lower operational costs.
The mining sector is crucial for our country's economy, and having such services will greatly stimulate the growth of the mining industry.
"We have designated the Buzwagi and Kahama areas for the construction of value-added factories and mining services." he added
The goal is to ensure that we make Tanzania a hub for the distribution of mining products and services both within the country and to neighboring countries surrounding Tanzania," said Mavunde.
The Indian Ambassador to Tanzania, Hon. Bishwadip Ney, and the Italian Ambassador, Hon. Giuseppe Coppola, praised the business collaboration among the three countries of Tanzania, India, and Italy, promising to continue enhancing trade cooperation and promoting the mining sector, which is vital for stimulating Tanzania's economic growth.Meanwhile, the Managing Director of Shan Parts Africa Ltd, Mr. Malhar Dave, noted that the favorable investment environment under the leadership of President Dr. Samia S. Hassan has enabled the company to decide to invest in Tanzania, emphasizing that the company's plan is to ensure the supply of high-quality spare parts that align with today's global technology standards, thus contributing to the growth of the mining sector.
