Taifa Gas, a multinational conglomerate has committed to invest Sh16 billion in a Liquefied Petroleum Gas (LPG) import, storage and distribution plant in Mombasa’s Dongo Kundu Special Economic Zone.
Taifa Gas is a Tanzania-based multinational firm that deals with Liquefied Petroleum Gas (LPG) importation, storage and distribution in East Africa and Southern African Development Community (SADCC) countries.
The company started as Mihan Gas Company Limited (MIHAN GAS) and was incorporated in the United Republic of Tanzania in 2005. The Company spent two years in its initial business startup investment in Liquefied Petroleum Gas (LPG) and eventually commenced business in 2008.
In 2017, the company was acquired by new shareholders and subsequently, in 2019, the company name changed from Mihan Gas Company Limited to Taifa Gas Company Limited to reflect the company’s new Vision and Mission.
The project has been recently registered and licensed as an investment company known as Taifa Gas SEZ Investment Company Limited and allocated 30 acres of land for Investment by the Kenyan Government.
Addressing the media during a press briefing at the Castle Royal Hotel, Mombasa, the Managing Director, Taifa Gas, Veneranda Masoum said that the company involves construction of 30,000 metric tons of LPG imports, exports and storage terminals at the Dongo Kundu Special Economic Zone.
Masoum said that this project will be an LPG hub within the East Africa Region. She expressed their gratitude for the approval to invest in Kenya because the company has been pursuing investment access since 2017.
“We expect 90,000 direct and indirect jobs will be created by this investment especially when we start the downstream retail operations. This will have a significant impact on job creation across the country and the region,” said Masoum
The facility will be one of Kenya’s largest private sector investments in the recent past and among the first in the Dongo Kundu Special Economic Zone. The Gas Company has initiated groundwork to start the construction of the project at Dongo Kundu that is expected to be completed within a 12-month period.
Massoum added that Taifa Gas opted to invest in Mombasa, Kenya because of socio-economic development and peace in the country.
She stated that they are elated to have their first investment in Kenya particular in Mombasa and that the investment marks a major step in their efforts to concretize their plans for a larger footprint in Kenya and the region.
The group still has plans to invest in more Taifa Gas depots in different counties apart from Mombasa such as Nairobi, Kisumu, Kilifi and others.
Due to increased deforestation and habitat destruction, the group expects that the LPG facility will play a hand in reduction of habitat destruction as more people transition from wood fuel to gas.
The Managing Director also said that Taifa Gas will supply and distribute 6kg and 13kg cylinders for domestic use which meets the needs of local communities for cleaner and more efficient alternatives to the traditional fuels.
The group also targets consumers who need bulk tanks, a network of pipelines and cookers to enable them to use LPG as they have developed technical capacity to carry out safe and technically sound LPG tanks installation to them.
By Asia Salat and Fatuma Said
