The pioneering, integrated broadacre farming operation on 5000 hectares is being facilitated by agribusiness consultancy Snowy Mountains Limited in a joint venture with African based Amboni Sisal Properties.
The Agri-Tanga project envisages converting land formerly used for sisal production to 5000ha of chick peas and maize and fodder production, grain storage and feedlot facilities for cattle, sheep and goats.
A total of 17 centre pivots fed by ground and surface water will produce maize, sorghum and lucerne crops to supply the feedlot.
To be located near the town of Pangani, the 25,000 head capacity feedlot is projected to turn off 100,000 cattle a year to produce 17,500 tonnes of beef for domestic and live export markets.
Manure from the feedlot will be composted and spread as a non-chemical source of fertiliser.
A Halal certified abattoir with the capacity of processing 300 cattle a day will be built at the nearby major city of Dar es Salaam.
A wholesale supermarket will service major chain stores, hotels, restaurants and meat retailers with fresh and frozen product.
Snowy Mountains Ltd consultant Bruce Campbell said the project would employ almost 350 staff, most locally-created jobs.
Mr Campbell said the grain and feedlot infrastructure would be built over a two year period on the greenfield site, with much of the farm machinery and irrigation equipment sourced from Australia.
Australians skilled in feedlot nutrition and management, cropping, abattoir management and heavy machinery maintenance would be recruited.