for Meat Processing Plant |
LAPF Pension Fund
(LAPF) has signed a shareholding contract for the construction and
operation of a modern meat processing plant in Mvomero District,
Morogoro Region.
The contract signed
involved the Pension Fund and Eclipse Investments LLC, a subsidiary
company of Zubain Corporation from Oman and Busara Investment companies.
In the new
investment LAPF Pension Fund has injected 10bn/-, a measure that is
aimed at supporting industrialisation drive spearheaded by the fifth
phase government.
Officiating at the
shareholding contract signing ceremony on behalf of Morogoro Regional
Commissioner, Dr Kebwe Stephen Kebwe, Regional Administrative Secretary
Clifford Tandari said it was gratifying for LAPF Pension Fund to
supplement government's efforts in the industrialisation agenda.
"It is gratifying
to see that the agenda of industrialisation is tak ing place and today
we are going to witness the launching of a journey which will make this
place productive in the near future," Mr Tandari said.
LAPF Director
General Eliud Sanga said the ultra-abattoir that will be built at Nguru
Hills Ranch in Movomero Nguru Hills Ranch Ltd was one of the
opportunities among others that the Pension Fund had grasped and
concluded to invest.
"Nguru Hills
Abattoir is just the beginning of the Fund in the era of investing in
the industrial sector. Today, we bear witness to the second major
investment in Morogoro Region," he said.
According to Mr
Sanga, implementation of Nguru Hill Abattoir project was the second
after the first investment - Msamvu ultra-Modern Bus Terminal --
implemented at Msamvu area in Morogoro Municipality.
Under the contract,
Mr Sanga said, LAPF would finance the construction of some
infrastructures and acquisition of trucks for product transportation.
"This project is very significant and will be beneficial to many
stakeholders including cattle keepers across the country as they will
get a reliable market for their livestock," he insisted.
He said the
abattoir would trigger creation of direct and indirect job opportunities
and increase foreign currencies from export of beef, production of
by-products which are important raw materials for other industries.
Under the new
shareholding structure LAPF owns 39 per cent of shares while the
remaining shares are owned by Eclipse Investments LLC, a subsidiary
company of Zubain Corporation from Busara and Busara Investment
companies.
The industry, whose
operations are scheduled to commence next January, is expected to
enable slaughtering of 300 cows and 2,000 goats per day. "With this
modern abattoir an average of 9,000 cows will be slaughtered every
month, which is 108,000 cows annually.
Also a total of
60,000 goats will be slaughtered every month and this counts to 720,000
goats annually," he said. He added that 80 per cent of meat that will be
processed in the industry will be sold abroad and a total of 500 people
will be employed.
Morogoro District
Commissioner, Regina Chonjo said the establishment of the industry would
enable pastoralists to benefit from the business. "I can assure you
that our people will now keep animals with specific goals, they are
going to benefit from this business due to the availability of reliable
market," she said.
At least 6,000
acres of land have been allocated for the industry. A total of 1,200
acres has been allocated for animal grazing. Mr Janardhan Pilai, Zubain
Corporation Chief Operating Officer, said beef produced would be mainly
exported to the Middle East and Far East.
"In marketing
strategy it is crucial for these shareholders especially Zubain
Corporation to provide crucial link with Gulf States market where
exportation will be concentrated," Mr Pilai said.
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