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President Mwinyi invites investors in mega project

President Mwinyi invites investors in mega project

ZANZIBAR President Dr Hussein Mwinyi yesterday invited potential investors in the ambitious Mangapwani integrated project, declaring the isles’ keenness to implement the multimillion dollar scheme.

“We want the world to appreciate the fact that we are ready to implement the Mangapwani project,” President Mwinyi said soon after receiving the project’s master plan at Vuga-based State House.

He said the government has been receiving many prospective investors with interest to participate in the project. “...you can now come for discussions on the cooperation procedures,” charged Dr Mwinyi, inviting both domestic and foreign investors.

The president said the Mangapwani project was not for foreign investors alone. “I want to see many domestic investors participating in this flagship project.”

According to the master plan, which Oman Investment Authority’s (OIA) Africa Regional Chief Executive Officer Mohamed Al-Tooqi presented to Dr Mwinyi, the project involves construction of Mangapwani multi-terminal port, satellite city and redevelopment of Malindi port as a tourism hub.

The OIA, a multibillion dollar government organisation with large investments in the Sultanate of Oman and 35 countries globally, had hired the Seaport Group of Netherlands on the plan consultancy.

The 180-hectare satellite city whose 10 per cent is for commercial uses will accommodate 50,000 inhabitants. The Zanzibar government and OIA had on February 28, 2021 signed a Memorandum of Understanding (MoU) on the multi-terminal port project.

The investment authority was given six months to develop the master plan, the task it has performed in hardly three months. Mr Al-Tooqi said after the master plan, the authority will require six months to develop the project’s bankable feasibility study.

But, President Mwinyi directed that the job be accomplished in less time.

“Six months for the bankable feasibility study is too much...we don’t have that time,” President Mwinyi said, charging: “We want speed and precision in this investment; we don’t want to make mistakes.”

President Mwinyi underscored the need for speedy execution of the project, saying: “We are in a crisis with Malindi port, which is too small to handle all our cargoes. Many big ships are not docking here.”

He said the government is determined to succeed in the grand development project, the first under the eighth phase government.

The government, through the project, aims at transforming Zanzibar into the East and Central Africa’s commercial and tourism hub through construction of essential economic infrastructure.

Under the all inclusive Mangapwani project, Zanzibar envisages a huge and modern port with various terminals for containerised and general cargo; fuel; fishing vessels; oil and natural gas.

Besides the fishing related facilities, the project will have industrial infrastructure and maritime training institutions, which will facilitate the country’s blue economy drive.

Zanzibar government has opted for the ocean—based activities as the engine of its economic growth.

Under the blue economy, the country will pursue deep sea fishing, fish processing, fish farming, exploration of oil and gas, among other economic undertakings.

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