* Japanese firm to build $414 mln power plant in Tanzania
* Project to be jointly financed by other Japanese
DAR ES SALAAM May 31 Tanzania has signed an
agreement with Japan-based Sumitomo Corp to build a
240-megawatt natural gas-fired power plant, the Tanzanian
president's office said, as the east African pushes to alleviate
The office said Sumitomo will set up the plant on the
outskirts of Tanzania's commercial capital Dar es Salaam, at a
cost of 675 billion Tanzanian shillings ($413.4 million).
Sumitomo will implement the project jointly with other
Japanese companies, including Japan Bank for International
Cooperation, Nippon Export and Investment Insurance and Sumitomo
Mitsui Banking Corp.
Although Tanzania has vast deposits of natural gas, it has
been plagued by frequent power outages, which led to a slowdown
in economic growth in 2011/12.
($1 = 1633.0000 Tanzanian shillings)
(Reporting by Fumbuka Ng'wanakilala; Editing by George Obulutsa
and David Holmes)