Skip to main content

IPP Group signs deal to start car assembly plant

Commercial and non-commercial vehicles buyers in Tanzania will no longer be required to use foreign currencies after IPP Automobile Ltd announced a plan to set up an assembly plant in Dar es Salaam yesterday.

The first new vehicles branded Hyundai and Daewoo are expected to be on sale in September, next year. The plant will be assembling 1,000 vehicles per year.

This was disclosed after IPP Automobile Ltd signed an agreement with a technical representative from Korean Youngsan Glonet Corporation, who represented Hyundai and Zyle Daewoo companies.

The $10 million (Sh23 billion) deal was signed by Reginald Mengi, the executive chairman of IPP Group, which also owns IPP Automobile Limited and Youngsan.

The car assembly plant will produce commercial and construction lorries, buses and sports utility vehicles (SUVs).

Speaking to reporters in Dar es Salaam yesterday, Dr Mengi said the project will stimulate the economy and help buyers to minimise exchange risks associated with importation of the vehicles.

This is the second time for IPP Group subsidiaries to sign an international agreement. Last month, the company signed a contract with the Dubai based Touchmate to start producing electronic gadgets, which include computers, mobile phones, Ipads, headphones and home appliances. The company said it would invest $5 million (Sh12 billion) for the manufacturing plant, which will employ at least 2,000 people.

Dr Mengi, one of the top billionaires in the country, said this will be an important step for Tanzania because a lot of young people will be employed at the plant.

“Through this project, we expect to provide direct employment for at least 500 Tanzanians while indirect employment opportunities will certainly be more than 1,000 people,” said Dr Mengi.

According to him, third party industries and companies will also benefit as the factory expects to procure raw materials from local sources.

The assembled cars will also be exported to neighbouring countries like Malawi and Zambia.

Dr Mengi featured in Forbes ranking of Africa’s richest people with a fortune of more than $400 million in 2015 and he is currently running the IPP Group, a Tanzanian conglomerate that bottles Coca-Cola and manufactures the Kilimanjaro water brand.

Comments

Popular posts from this blog

Sensa Elimu Msingi TAMISEMI 2020 Login Here

Sensa Elimu Msingi Tamisemi tz go 2020 TSA, TSM, TSS, TWM Get all information about Sensa ElimuMsingi, Login Sensa Elimu Msingi, TSA, TSM, TSS and TWM. SensaElimuMsingi Tamisemi tz go Check Detailed information about TAMISEMI Sensa ElimuMsingi Sign in...!! We have provided essential details regarding Sensa ElimuMsingi, so what are you waiting for? Go ahead as soon as possible and get Sensa ElimuMsingi details. President’s Office – Regional Administration and Local Government (PO-RALG), Sensa Elimu Msingi Tamisemi tz go The role of the Ministry is to coordinate and supervise regional development management and administration. Thus, the ministry coordinates rural and urban development management policy and strategies; coordinates Regional Secretariats activities and builds their capacity in institutional development strategies for integrated socioeconomic development and financial development of Local Government Authorities. The Ministry also coordinates and supervises developme...

TAMISEMI Announcing Names Of Employees (Walimu Na Afya) 2021

We know you waited for so long names of TAMISEMI Majina Ya Walimu 2021 and Health sector. TAMISEMI today has announced new names of employees who applied for the job opportunities via ajira.tamisemi.go.tz announced on May 2021 by Minister of TAMISEMI Ummy Mwalimu. President’s Office – Regional Administration and Local Government The role of the Ministry is to coordinate and supervise regional development management and administration. Thus, the ministry coordinates rural and urban development management policy and strategies; coordinates Regional Secretariats activities and builds their capacity in institutional development strategies for integrated socioeconomic development and financial development of Local Government Authorities. [ads id="ads1"] The Ministry also coordinates and supervises development planning and sectoral interventions on donor supported programmes at district and other locals levels; issues ministerial guidelines to Regional Secretariats and Local Govern...

Viwango Vya Mshahara Kwa Watumishi Wa Umma Tanzania 2019

In 2014 , the Government implemented new Salary Scales, The Tanzania civil service has a common pay and grading system. This means that all departments and offices have the same approach to grading, with pay levels in respect of each grade determined centrally. TGOS A TGOS A 1. (Sh240,000), TGOS A 2. (Sh245,600), TGOS A 3. (Sh251,200), TGOS A 4. (Sh256,800), TGOS A 5. (Sh262,400), TGOS A 6. (Sh268,000), TGOS A 7.(Sh272,000), TGOS A 8(Sh279,000), TGOS A 9.(Sh284,800), TGOS A 10(Sh290,400), TGOS A 11(Sh296,000), TGOS A 12(Sh301,600), TGOS A 13(Sh 307,200), TGOS A 14(Sh312,800), TGOS A 15(Sh 318,400), TGOS A 16(Sh324,000), TGOS A 17(Sh329,600) na TGOS A 18(Sh335,200). TGOS B TGOS B 1. (Sh347,000), TGOS B 2. (Sh356,500) TGOS B 3 . (Sh366,000), TGOS B 4 . (Sh375,500), TGOS B 5. (Sh385,000), TGOS B 6. (Sh394,500), TGOS B 7. (Sh404,000), TGOS B 8. (Sh413,500), TGOS B 9. (Sh423,000), TGOS B 10. (Sh432,500), TGOS B 11 . (Sh442,000) na TGOS B 12. (Sh451,500)TGOS C TGOS C 1 . (Sh471...