Mombasa Gas Terminal Ltd (IFC-38907)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Countries
  • Kenya
Where the impacts of the investment may be experienced.
Specific Location
Mombasa City
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Mombasa Gas Terminal Ltd.
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 48.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 48.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 112.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 13, 2018

Disclosed by Bank Apr 25, 2018


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Project Description

According to IFC website, the Mombasa Gas Terminal is developing a greenfield liquefied petroleum gas (LPG) terminal, in the Port of Mombasa, Kenya that will import and market LPG within the country. The terminal will have direct mooring access for large-sized LPG carriers, a pipeline for the transfer of gas to an onshore storage facility which has a capacity of 22,000 metric tons (MT) that will be mounded. The aim of the project is to address issues of LPG supply and infrastructure in the Port of Mombasa to support the LPG master plan for Kenya. The expected development impact of the project includes: 

1. Positive impact on LPG end-users who will have more access as a result of larger LPG volumes, more affordable price, and increased access to a cleaner, more efficient and safer fuel.

2. Positive impact on distributors, as LPG will be more readily available, as a result of MGT's competitiveness arising from its scale, enabling distributors meet the growing demand and size of the market.

3. Supports environmental sustainability through diversification into more efficient and safer energy resources than currently available, and with potential linkages to domestic retail and distribution sector.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

Project Contact: Milio International Limited
D’Arcy Bond , Vice President, East Africa
Contact No.: +971 4 449 0200
Email Address: darcy.bond@milio.com
Office Address: P.O. Box 340581, Dubai, United Arab Emirates
Website: www.milio.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/