World Bank injects Ksh 2.5 billion into Mombasa LPG project
The World Bank’s private finance arm, the International Finance Corporation (IFC), will inject Ksh2.5 billion for the construction of an LPG import and storage terminal.
General Manager of the Mombasa Gas Terminal (MGT) Ing. Julius Riungu announced on Friday the funding that anchors the completion of the first phase of the project.
“We confirm that we have received a facility from the World Bank for the first phase of Ksh2.5 billion ($ 23 million) of our bulk LPG import and storage terminal. The second phase will supplement the storage capacity to 22,000 metric tonnes or more with an annual throughput capacity of 400,000 metric tonnes, ”he said.
“This project will support Kenya’s ambitious goal of sustainable economic development. We aim to complete construction of phase 1 and start operations within six months. “
The terminal is expected to increase the country’s uptake of clean energy fuels and aligns with Kenya’s goal of achieving universal access to modern cooking solutions by 2030.
The new terminal will include direct mooring access for large LPG carriers, storage and associated infrastructure that has multiple loading points for the transfer of LPG to road and rail transport.
In addition, the terminal is designed to end the infrastructure constraints in the LPG value chain and promote the accessibility and affordability of the product.
“We have embarked on the Mombasa gas terminal project to reduce supply constraints and improve the affordability and accessibility of clean fuel use in the country for industry and households. At MGT, we are very excited to create an opportunity for our fellow Kenyans to improve the quality of their environment and their health, ”added Eng. Riungu.
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