Global PoleTrusion Group Corp. Announces Discussions to Form a Joint Venture with TANESCO in Tanzania

Rhea-AI Summary

Global PoleTrusion Group Corp. (GPGC) has received encouragement from Tanzania's Ministry of Energy to advance discussions with TANESCO for a potential Joint Venture. This collaboration aims to provide composite utility poles and establish a production facility in Tanzania, marking a significant step towards GPGC's goal of producing Distribution Poles and Transmission Towers. GPGC specializes in engineering solutions for utilities, emphasizing the superior benefits of composite structures over traditional materials.

Positive

• Received endorsement from Tanzania's Ministry of Energy for partnership discussions with TANESCO.
• Potential establishment of a Joint Venture to supply composite utility poles in Tanzania.
• Advancement towards starting local production of Distribution Poles and Transmission Towers.

Negative

• None.

MIAMI, FL / ACCESSWIRE / April 28, 2022 / Global PoleTrusion Group Corp. (OTC PINK:GPGC) has received a letter from the Ministry of Energy of the United Republic of Tanzania advising GPGC that they have reviewed their request to form a partnership with TANESCO, Tanzania's utility company.

The Ministry has advised GPGC to continue discussions with TANESCO to form a Joint Venture to supply composite utility poles and set up a production facility in Tanzania.

"This is a great advancement towards our goal to start Distribution Poles and Transmission Tower production in Tanzania"

Said Ramiro Guerrero, President /CEO Global PoleTrusion group

About Global PoleTrusion Group Corp.
GPGC is an engineering firm that fulfills the needs of telecommunications and utility companies, providing composite poles, towers and renewable energy solutions. Their composite structures outperform their steel, wood and concrete counterparts as they are stronger, lighter, easier to install and environmentally safe. With its advanced engineering and manufacturing capabilities, GPGC is at the forefront of providing creative and effective solutions to address the needs of utility companies around the world.

To learn more about GPGC, visit
www.globalpoletrusiongroup.com

Contact:
info@poletrusion.com

Forward-Looking Statements
This news release contains « forward-looking statements », as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

SOURCE: Global Pole Trusion Group Corp.

View source version on accesswire.com:
https://www.accesswire.com/699134/Global-PoleTrusion-Group-Corp-Announces-Discussions-to-Form-a-Joint-Venture-with-TANESCO-in-Tanzania

FAQ

What partnership is Global PoleTrusion Group Corp. pursuing in Tanzania?

Global PoleTrusion Group Corp. is seeking to form a Joint Venture with TANESCO, Tanzania's utility company, to supply composite utility poles.

What does GPGC specialize in?

GPGC specializes in engineering solutions for telecommunications and utility companies, providing composite poles, towers, and renewable energy solutions.

What was the recent update from Tanzania's Ministry of Energy to GPGC?

The Ministry of Energy advised GPGC to continue discussions with TANESCO for a potential Joint Venture.

What impact does the Joint Venture with TANESCO have on GPGC?

The Joint Venture could enhance GPGC's market presence in Tanzania and support the production of Distribution Poles and Transmission Towers locally.

What are the advantages of GPGC's composite structures?

GPGC's composite structures are stronger, lighter, easier to install, and environmentally safe compared to traditional steel, wood, and concrete poles.