Egyptian investors in collaboration with their Tanzanian counterparts yesterday unveiled plans to solve the sugar deficit in the East African country after establishing a sugar project at Rufiji River basin in Coast Region.

Speaking at a joint press conference in Dar es Salaam yesterday, Agro Forest Plantation (AFP) project coordinator Kiondo Mahanyu, said the project will kick-off beginning July this year with the planting of over sugarcane implants on 16,000 to 20,000 acres of land.

“The production capacity is expected to reach 750 tonnes of sugarcane daily, the company would crush up to 1,575,000 tonnes to produce 157,500 tons of sugar annually,” Mahanyu said.

For his part, chairman of the Egyptian African Company (EAC), Mustafa El Ahwal, said his firm has entered into a pact with the local company to build a 7,500 TCD sugar factory in Rufiji.

“I am very happy to say the atmosphere in Africa has changed, the past regime in our country didn’t have political will to promote business integration in Africa. But now I can see, the Arab spring has forced it to fulfill the people’s will,” he said.

Spokesman of the Egyptian African Company Dr Farouk Abdul Halim Shakweer said that Tanzania is a suitable country for agricultural investment as the land is fertile and can grow all crops with latest modern technology.

“The proposed cost of the project is estimated at USD200m and production is expected to start by October 2014,” he said.

He further stated that they are also in the process of acquiring 50,000 ha in Kigoma Region around for setting up oil a palm and sunflower industry and other edible oil factories.

He also stated that they have set up a sugar factory in Sudan’s Al-Hurga and Nuraddine, to produce sugar, molasses. The factory uses biogases in generating energy needed for the manufacturing process. The Investment in this factory is around USD200m.

He also sated that International Associated Cargo Carrier (IAAC) which is also part of EAC is involved in all aspects of shipping since the 1970s.

Speaking at the same event, the Egyptian Ambassador to Tanzania, Hosam Moharam, said his government has launched Egyptian Initiative for Development in Nile basin countries to provide development assistance to the Nile Basin brotherly countries within the context of African solidarity.

Mostafa al-ahwal the chairman of the group, along with his delegation is in Tanzania upon invitation by the African Development Bank to attend the historic AfDB meeting which began in Arusha yesterday.