Home ECONOMY KSh2.5 Billion Mombasa LPG Project to Benefit From IFC Loan

KSh2.5 Billion Mombasa LPG Project to Benefit From IFC Loan

by biasharadigest

The International Finance Corporation has renewed its commitment to the Liquefied Petroleum Gas (LPG) project in Mombasa being developed by Mombasa Gas Terminal. Mombasa Gas Terminal is constructing a $23 million (KSh2.5 billion) greenfield liquefied petroleum gas (LPG) terminal in the Port of Mombasa.

According to a statement on the IFC website, the project aims to support the Liquefied Petroleum Gas master plan for Kenya by addressing issues of LPG supply and infrastructure in the Port of Mombasa.

The International Finance Corporation will issue a $5 million A-loan to Mombasa Gas Terminal to start Phase 1 of the project which is the construction of an LPG import facility. The import terminal will have, “a private berth for unloading small to very large gas carriers, multiple loading gantries for the transfer of LPG to LPG tanker trucks, and special LPG transport vehicles.” Phase 2 of the project will involve the construction of an on-land LPG storage facility.

John Hart, a specialist in building and managing oil terminals is the project sponsor and the largest shareholder of Mombasa Gas Terminal. The investor is backed by a team of highly skilled managers with experience in the oil and gas industry.

Also read: Lexo Energy to Install Electric Vehicle Charging Stations After KSh1.5 Billion IFC Loan

Related Posts

Leave a Comment