Mwijage hails Lake Group’s lubricants factory

17Oct 2018
Joseph Mchekadona
Dar es Salaam
The Guardian
Mwijage hails Lake Group’s lubricants factory

LAKE Group’s Kigamboni lubricants factory is a milestone in fulfilling the government’s industrialization drive with creation of 250 permanent jobs.

Minister for Industry, Trade and Investment, Charles Mwijage

Minister for Industry, Trade and Investment, Charles Mwijage said in Dar es Salaam on Monday evening that Lake Group’s multi-billion shillings investment is supporting government’s efforts to turn the country into a middle income economy by 2025.

“With companies like Lake Group we are sure that our goal of being a semi industrialized middle income economy will be realised by 2025. I congratulate Lake Group for opening Lake Lube which also enable the country earn foreign currency through exports,” Mwijage said after officially opening the factory. 

He said, as per the company’s owners, Lake Lube’s 120,000 litres daily production will almost meet the 128,000 litres daily hence sure that the surplus will be sold abroad as the country has other lubricants manufacturers.

Minister Mwaijage also pointed out with Lake Lube’s quality which have local standard verification will also help wean the country from substandard lubricants which are mostly imported clandestinely.

He vowed to meet officials from Tanzania Bureau of Standards and Energy and Water Utilities Regulatory Authority to review the country’s laws for controlling lubricants’ business in order to stop proliferation of low quality products in local market.

“The government’s main objective is to encourage domestic investments by ensuring that the market is driven by fair competition,” he assured.

In his welcoming remarks, Executive Director of Lake Group, Ally Awadhi  said his company is committed to complement  President John Magufuli’s industrialization blue-print and turning the economy into meddle income status.

Awadh assured Mwijage and consumers that Lake Lube will be producing high quality products for both the local market and export markets.”My company is working with government agencies and institutions to make sure that the domestic market has quality, genuine lubricants,” the Lake Group CEO noted.

He said Lake Lube factory is a U$ dollars 4.5m investment of which U$ 2.5m is from loans backed by the investor’s savings. “We are happy with the support that we are getting from the government and our next investment is a steel factory at Misugusugu area in Coastal Region,” Awadh assured the minister.

In a separate interview Peter Sifa, who is Lake Group Director  of Marketing and Sales, said they are aware that their new investment will face many challenges but are optimistic that Lake Lube will survive such forces.

“The local lubricants market is full of challenges but we at Lake Lube are sure to overcome them,” he charged noting that quality products will be a weapon against unfair competition.

 

 

 

 

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