The Union Minister of Steel, Shri Beni Prasad Verma recently led a delegation to Tanzania to strengthen cooperation between the two nations in steel & mining. A Letter of Intent (LoI) was signed between Government of India and the Government of Tanzania on 6th April at Der es Salaam. The LoI was signed in the presence of the Union Minister of Steel, Shri Beni Prasad Verma and Prof. Sospeter Muhongo, the Minister of Energy and Minerals, United Republic of Tanzania.
Speaking about the need for cooperation in the field of mining and steel making, Shri Verma said “Tanzania has huge mineral resources which are yet to be fully developed. I believe there is a possibility of joint venture for Indian companies with mining entities in Tanzania.” He termed the LoI as a step in the direction of strengthening ties between the two countries.
The LoI signed by the Secretary, Ministry of Steel, Government of India, Shri D.R.S. Chaudhary, and the Permanent Secretary (Energy & Minerals), Mr. E.C. Maswi, Government of United Republic of Tanzania, inter-alia aims to promote and expand bilateral relations between the two countries in the mineral sector with focus on strengthening supply chain for growth of the steel industry in both the countries. The LoI aims to encourage investment opportunities in India and Tanzania in the iron & steel related businesses, facilitates exchange of technical know-how in developing iron and steel production and other steel related raw materials, including pelletisation plants and other associated industries. LoI aims that both the Governments jointly work for developing the steel industry and exchange technically qualified manpower for sustainable growth of iron & steel industry.
The Minister of Steel was accompanied by Secretary Ministry of Steel, Shri D.R.S. Chaudhary, Chairman, SAIL & NMDC, Shri C.S. Verma, and other senior officials from the Ministry. During the signing ceremony, High Commissioner of India to Tanzania, Shri Debnath Shaw, was also present.
The visit will not only strengthen relations between India and Tanzania. It will also give added thrust to the possibility of exploration and development of mineral assets in the country.