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Posted: 13 Apr 2016 09:16
Category: Government & Development
Location: Africa , Tanzania , Dar es Salaam
Address: Sam Nujoma Rd, Dar es Salaam, Tanzania
Web Site: http://www.tazama.co.zm
Contact Name: N/A
The name TAZAMA is an acronym of Tanzania, Zambia, Mafuta (Mafuta being a Swahili name for oil).TAZAMA pipelines limited was incorporated in 1966 and is owned by the Government of the Republic of Zambia and the United Republic of Tanzania; holding two thirds and one third of the share capital respectively. The two owner governments formed TAZAMA pipelines limited as a private company for the purpose of transporting crude oil or its petroleum products cheaply from the port of Dar es salaam into landlocked Zambia. The main purpose of forming the company was to ensure that the people of Zambia and their economy did not endure high fuel prices as a consequence of Zambia being landlocked. To this effect, the two governments negotiated between them a pipeline convention, which to this day, still regulates operations of the pipeline including such matters as way leave easements and ownerships, shareholding, market share and many other rights and privileges
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