Tanzanian company plans to invest 500 million dollars in sugar industry

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Agro Eco Energy from Tanzania is planning to invest $500 million in production of sugar, ethanol, and power generation. The firm’s annual output estimate is between 130,000 and 150,000 tonnes of sugar.

According to managing director Anders Bergfors , there will be production of 90 megawatts of electricity annually and ethanol for use in vehicles. And around a 9,900 jobs ( direct and indirect) will be created. He also said that production will start as soon as discussions with the government are finalized.

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