Aie Holding Ltd, an Israeli firm registered in Tanzania last year announced the investment and said the funds will go towards projects related to agricultural education, logistics division, vegetable oil plant, feed mill, packing and storage, solar power, cattle farm, poultry farm, fish farm, field crops, tropical fruit concentrate, solar power and wastewater treatment.
Headquartered in Dar es Salaam, the company whose founder and chairman is Mr Avi Postelnik, an investor from Israel, will source the money from private equity as well as local and international banks.
Potential local partners
“We have already met the TBA (Tanzania Bankers Association) to get their support in organising five big banks to build a syndicate,” While some US$200 million of the money will be invested in infrastructure of the agro-industrial projects, the remaining US$50 million would be working capital. The doors are open for potential local partners, Mr Postelnik said.
The company, whose operation will be in Dar es Salaam, Kagera, Mwanza, Bagamoyo, Njombe and Morogoro, is expected to create about 70,000 direct jobs including that of chief executive officer to locals. Mr Postelnik said agricultural education and training will be provided in Tanzania and Israel.
“We intend to use the advanced agriculture education in Israel by enrolling Tanzanians for short and long periods in our special projects of education available in our country. We intend to use Israel know-how to employ graduates in management and technical positions in our agro-industrial projects in Tanzania,” he asserted.
Mr Postelnik said the transportation and Logistics division will be used for delivery of the raw materials to the processing plants and then for transportation of the finished products to the local markets for sale or to the ports for export. All the projects will use solar energy. Experts from Israel will come to evaluate the sites and advise the type of solar energy for maximization of natural energy.