Taifa Gas, the liquefied petroleum gas supply company owned by Tanzanian billionaire Rostam Aziz, has unveiled plans for a groundbreaking $100-million investment in power generation in Zambia.
The strategic move aims to bolster Taifa Gas’s presence in Southern Africa while fostering stronger trade and business ties between Tanzania and Zambia.
In collaboration with local company Delta Marimba, the Rostam Aziz-led Taifa Gas will establish Zambia’s first liquefied petroleum gas (LPG) plant in the northern part of the country.
This multimillion-dollar investment signifies Taifa Gas’ unwavering commitment to the continent’s energy sector and solidifies its position as a key player.
The ambitious project, subject to receiving crucial approvals from Zambian authorities, including an Environmental Impact Assessment, is projected to commence production within 24 months.
Once operational, the power plant will inject an additional 100 megawatts into the Zambian national grid. The venture strategically positions Taifa Gas to explore diverse opportunities associated with LPG utilization, spanning from cooking gas to power solutions.
Aziz, the Tanzanian billionaire at the helm of Taifa Group, emphasized the alignment between his company and Delta Marimba in leveraging the conducive policies to build a robust economy.
“The time is ripe for our countries to prioritize economic issues, as it is through a thriving economy that we can transform the lives of our people,” he said, stressing the importance of translating the longstanding political relations between Tanzania and Zambia into economic benefits for their citizens.
Taifa Group, under Aziz’s leadership, has demonstrated a firm commitment to transforming East Africa’s energy sector. Earlier this year, Taifa Gas was licensed to establish a cooking gas plant and storage facilities at the Mombasa port.
Another company within the group, Taifa Energy, partnered with the state-owned Zanzibar Electricity Corporation to develop a utility-scale solar photovoltaic (PV) project on the island.
The project, valued at $140 million, aims to contribute 180 megawatts to the Zanzibar grid and marks a historic collaboration between GCL and Taifa Energy as Tanzania’s first utility-scale solar PV project.
