If all goes well, Saudi Arabia will venture on the construction of crude oil refinery factories in the country a move that would help to reduce costs of oil in Tanzania.
“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,” Prince Ahmed Al Sudery of Saudi Arabia made the revelation in Dar es Salaam on Friday during his visit to the Tanzania Ports Authority (TPA)’s oil terminal.
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.
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.
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