Tanzania has invited Omani companies and local investors to invest in sugarcane production in the country to meet local demand.

According to the Minister for Agriculture, Livestock and Fisheries Mwigulu Nchemba announced that the government had set aside 294,000 hectares to be allocated to companies looking to develop sugarcane plantations.

The minister said the land would be allocated to investors through a tendering process, to be co-ordinated by the Tanzania Investment Centre.

“Tanzanian government is currently campaigning to attract small and medium investors to inject their capital into sugar factories. He said that the actual demand for sugar in Tanzania stands at 420,000 tonnes per year while local production stood at 304,007 tonnes last year,” he said.

Tanzania’s Minister for Industry and Trade Charles Mwijage said the country has been looking for sugarcane producers from Oman to invest in the cultivation of the crop.

Tanzania and Oman last month established a company to co-ordinate investments and business between the two countries. Registered as Oman Tanzania Investment Company, the firm has put up $25 million as starting capital to be disbursed to private investors as loans.