TPC Ltd, a Tanzanian sugar company, has unveiled plans to invest 112.5 billion Tanzanian shillings ($45 million) in constructing a molasses plant. This initiative aims to enhance the sugar value chain, producing byproducts such as alcoholic spirits. The molasses facility will be strategically located near TPC's sugar processing plant in Moshi, and the company's board has approved an expenditure ranging from $45 million to $50 million for the project. The Treasury Registrar for Tanzania highlighted that this investment will stimulate employment, increase internal revenues, and contribute to the country's tax revenue. Furthermore, the generated molasses will be utilized for electricity production, with an expected addition of four to seven megawatts to the national power grid.
TPC Ltd, situated in the Kilimanjaro region, is known for its extensive sugar estates, utilizing 8,000 hectares of its 16,000-hectare land for sugar cane cultivation. Over the years, the company has consistently invested in field rehabilitation, infrastructure, and equipment upgrades, resulting in a notable increase in sugar production from 30,000 to 100,000 tonnes annually. In the recent financial report, TPC Ltd disclosed an after-tax profit of $29 million for the 2022/23 fiscal year and a record sweetener sale worth $94 million.