According to FO Licht, consumption in the country for 2015/16 is 624,700 tonnes sugar (raw value) while the production is 340,000 tonnes.
TPC Director of Corporate Services, Mr Jaffari Ally was reported as saying that the firm is set to spend more than TZS11bln (US$5 mln) on investment in machinery and expansion of farms.
The move was widely welcomed by the stakeholders in the sugar industry. The news was broked by a representative of Tanzania Sugar Producers Association (TSPA), Mr Hamad Yahaya at a news conference.
SIDA, which provided 50million Swedish Kronas (US$5.9 mln) to the project, pulled out at end April after expiry of the deadline for EcoEnergy to get other private partners.