Business
China’s influence in Africa: Tanzania 300 MW power plant
Thursday, October 13, 2011
A Chinese firm, Sichuan Hongda Co. Ltd., last month signed a $3 billion deal with Tanzania to mine coal and iron ore in the resource-rich country.
Tanzania’s state-run power utility, TANESCO, said it plans to spend 1.2 trillion shillings by the end of next year on emergency power projects.
Tanzania has been plagued by rolling blackouts for the past year, prompting the International Monetary Fund to revise its 2011 growth forecast for the country downwards to 6 percent from 7.2 percent previously.
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