Global steel giant Danieli Group eyes major investment in Tanzania

Dar es Salaam. The Danieli Group, a prominent global leader in steel technology and engineering, has officially expressed interest in exploring significant investment opportunities within Tanzania.

This development emerged following a high-level meeting at State House in Dar es Salaam on March 29, 2026.

President Samia Suluhu Hassan received the Italian Ambassador, Giuseppe Sean Coppola, and a delegation from the Italian firm to discuss the potential venture.

The proposed project involves the possible development of a modern, large-scale steel plant located in Mtwara.

This ambitious initiative would be undertaken in partnership with a Tanzanian private sector entity.

Estimates for the investment stand at approximately EUR 1.5 billion, which equates to roughly Sh4.2 trillion.

While the project remains in an exploratory stage, it is expected to be implemented in phases subject to further technical assessments and regulatory approvals.

President Samia welcomed the interest and reaffirmed the nation's commitment to facilitating strategic investments that align with national priorities.

She noted that Tanzania continues to position itself as a competitive destination supported by a strong natural resource base and ongoing business reforms.

The President emphasised that the government seeks partnerships that add value to local resources and contribute to the long-term vision of an industrial economy.

Ambassador Coppola said that this engagement reflects the growing economic cooperation between Italy and Tanzania.

He specifically mentioned the Mattei Plan for Africa as a framework for promoting sustainable and mutually beneficial investments.

The CEO of Danieli Group, Mr Giacomo Mareschi Danieli, pointed to Tanzania’s strategic regional position and its abundance of natural resources like gas and mineral ore as key factors for their interest.

If realised, this investment could serve as a cornerstone for Tanzania’s industrialisation agenda under Vision 2050.

The project aims to support domestic steel production, reduce reliance on imports, and create numerous employment opportunities.

Furthermore, it has the potential to establish Tanzania as a regional hub for steel production, particularly benefiting neighbouring land-linked countries and the Mtwara corridor.