GE, Symbion sign US$1bn power deal

Two US energy firms operating in the country have signed an agreement worth $1 billion (equivalent to Sh1.6 trillion) for a gas powered project, which aims at revamping the power supply system in the country.
 
General Electric (GE) and Symbion Power Tanzania Ltd yesterday signed a co-operation agreement with the objective of developing a 400MW gas powered plant in Mtwara to boost electricity in southern regions and the rest of the country.
 
Speaking at the signing event, the minister for Energy and Minerals, Prof Sospeter Muhongo, said that the partnership between Symbion Power Tanzania and the government through Tanzania Electric Supply Company (Tanesco) was expected to improve substantially the country’s energy sector.
 
Apart from the construction of a power plant, the project would also supply electricity to a new cement factory that will be constructed at a cost of $500 million by the Dangote Company.
 
According to the minister, the factory will produce 300 million tonnes of cement annually.
 
He said that the project was one of the outcomes of the natural gas discovered in Mtwara, which would bring many benefits to Tanzanians, including Lindi and Mtwara residents.
 
The agreement was signed by the president of GE, Mr Jay Ireland, and general manager of Symbion Power Tanzania Ltd, Mr Don Brindle. Prof Muhongo witnessed the signing.
 
At the signing ceremony, Mr Ireland said that GE was committed to partnering with other stakeholders to accelerate economic growth in Tanzania and the rest of Africa.
 
He said, lack of sustainable power supply had been hampering Africa’s progress.
Source: The Citizen, reported from Dar es Salaam
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