Romanian electricity distributor Transelectrica, close to African market

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National Power Grid Company Transelectrica approved setting up a subsidiary of its maintenance and repair division SMART SA in eastern Africa, Tanzania, bursa.ro informs.

“Tanzania has a very ambitious investment plan in the energy field, on which we must take advantage. By 2020, Tanzanian authorities have scheduled investment of USD 8.5 billion in energy, of which USD 2.5-3 billion are for the construction of new networks.

Tanzania is one of the safest markets in Africa. Even if the government is changing, the foreign investors have confidence that their contracts are respected and that there is continuity of the development strategy of the country. There are Chinese, Canadian and Americans investors working for a long time on the market,” Constantin Iacov, general manager of SMART SA explained.

According to him, SMART Tanzania will be part of a joint venture with Tanzania Electric Supply Company (TANESCO) in construction projects and upgrading the electricity transmission lines.

 

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