Dar firm injects Sh1.5 billion in Mtwara’s Free Port Zone
Mtwara’s Export Processing Zones Authority Investment promotion and facilitation director Zawadia Nanyaro (left) and Alistair Group’s managing director Alistair James cut the ribbon to officially launch the Alistair freeport facility in Mtwara at the weekend. PHOTO | THE CITIZEN CORRESPONDENT
What you need to know:
The company, a subsidiary of Alistair Group and one of the first companies to open shop within the customs-free bonded area of Mtwara Free Port Zone, has already completed development of the relevant facility.
Mtwara. The Dar es Salaam-based Alistair Freeports Limited has injected $700,000 (about Sh1.5 billion) in the customs-free bonded area of Mtwara Free Port Zone as it seeks to capitalise on the benefits that come with less strict customs regulations at the location.
The company, a subsidiary of Alistair Group and one of the first companies to open shop within the customs-free bonded area of Mtwara Free Port Zone, has already completed development of the relevant facility.
It has also been granted an Operator’s Licence after signing a lease agreement with the Export Processing Zones Authority (EPZA) for 14,154 square metres for a period of 33 years in July 2015.
The Export Processing Zones Authority (EPZA) director of investment promotion and facilitation, Ms Zawadia Nanyaro, said at the weekend that the facility will contribute towards employment creation around the Mtwara Free Port Zone.
The facility provides unlimited terms of storage, warehouse and service solutions to store and consolidate cargo.
“With this facility, foreign investors are now assured of the required business environment to bring their money to Mtwara…they will enjoy the incentives that the Mtwara Free Port Zone has to offer,” she said.
A free port zone is unique in that from a customs perspective, it is almost like a foreign country within Tanzania, and is therefore not subject to the policies that apply to bonded areas. It is subject to minimum control and incentives with Zero per cent Import and Export Duty. Earlier, Alistair Group’s managing director Alistair James, said that the new project is in line with the company’s vision to make Africa work better by providing integrated logistics solutions. “We believe this investment provides the required impetus to create access to a growing market and stimulate the banking system from the inflow of foreign capital. The project will positively impact on the lives and social economic welfare through the increase in employment opportunities to the people of Mtwara and beyond; leading to increased income levels and standards of living,” he said.
It is hoped that the facility will create space for companies, conducting exploration activities for oil and natural gas, to store their equipment between projects, thus making it easy for them to operate their businesses seamlessly.
