PM lays foundation stone for Sh25bn factory in Magu district

18Feb 2018
The Guardian Reporter
The Guardian
PM lays foundation stone for Sh25bn factory in Magu district

PRIME Minister Kassim Majaliwa has laid a foundation stone for construction of industries belonging to Lakairo Investment Company worth Sh25bn in Isangijo village, Kisesa Ward, in Magu district.

PRIME Minister Kassim Majaliwa.

The PM, who is on a tour of Mwanza region, said the industries to be constructed will be involved in steel wire production, seats manufacture and packaging materials.


Majariwa praised the owner of the industries, Lameck Airo, who is also the Member of Parliament for Rorya and chairman of the board of Lakairo Investment, for supporting the fifth phase government’s drive on industrial investment.


He said the government wanted to improve the country’s economy through boosting of industrial investment.


“We are implementing our manifesto that touts industrial investment. We want to ensure that we attract both local and foreign investors in the country,” he said.


According to the PM, the government will continue to support Lakairo investments so the industries can operate at a profit.


The PM also directed leaders in the region to ensure they give priority to investors by ensuring that they have access services such as electricity and water for smooth industrial operations.


Earlier, Lakairo Investment Executive Director Daniel Lameck said apart from industrial investment, which will create between 200 and 300 jobs, they also plan to construct ointment industries.


However, he said lack of funds was delaying the construction.