Alistair Group has through its subsidiary, Alistair Freeports Limited, invested nearly US$700,000 (1.5bn/-) to build a cargo storage facility in the Mtwara Free Port Zone, which is the first ever in the country.
The facility in the customs-bonded are of Mtwara port was inaugurated over the weekend in a ceremony that was graced by the Export Processing Zones Authority (EPZA) Director of Investment Promotion and Facilitation, Zawadia Nanyaro.
In her speech, Nanyaro said the authority in collaboration with Tanzania Port Authority (TPA) plans to curb unemployment and create sustainable employment opportunities through the free port zone.
She said that the development comes after Alistair completed the development of the facility and was granted an Operator’s License in July after signing a 33-year lease agreement with the EPZA for 14,154 square metres.According to her, the facility, which provides unlimited terms of storage, warehouse and service solutions to store and consolidate cargo, is aligned with government efforts to attract investors to southern Tanzania.
“On behalf of the government and the EPZA Director General, I am excited to usher in this new era of rapid development for our region and the country at large as we launch one of the first operating free port facilities today,” she noted.
“This is a great accomplishment on the government's part as it fosters a favourable environment for foreign investors who now have every reason to come to Mtwara and enjoy the incentives that the Mtwara Free Port Zone has to offer. And to the people of Mtwara and Tanzania, I urge you to grab the many opportunities that will arise from the new and incoming investments,” she added.
From a customs perspective, the free port zone is unique in that it is almost like a foreign country 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.
Apart from stimulating local investment in the region, this and other incentives reduce restrictions on foreign investment thus opening doors to establishment of foreign-owned companies that will result in an upward productivity cycle, which will stimulate the entire economy.
On his part, Alistair Group’s Managing Director Alistair James said the new project was in line with the group’s vision to make Africa work better by providing integrated logistics solutions.
“We are truly proud to be one of the first companies to start offering public access to the Mtwara Free Port Zone and so today we not only celebrate its inauguration but a significant milestone for Alistair Group.
“We have invested here as it provides a positive impact where this initiative will 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.”
The company is headquartered in Tanzania, with regional offices in Mozambique, Kenya, DR Congo and South Africa as well as operations throughout sub-Saharan Africa. Alistair Group was established in 2008 and in June, 2015, Alistair Freeports was incorporated to provide storage solutions in the Mtwara Free Port Zone on plots 6 and 7.
Direct beneficiaries of the development will be oil and gas exploration companies operating in the area, which currently face the challenge of facilities where to store their equipment.
“The Mtwara Free Port Zone is specially designed to be a convenient and cost effective place to store goods between oil and gas projects. This means that when imported goods i.e. equipment used in exploration are not in use they can be stored within the Alistair Freeport facility and thus remain exempt of VAT or customs duties until assigned to the next project,” the company’s public relations consultants said in a statement.
SOURCE: THE GUARDIAN
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