16 April 2019 |
For Immediate
Release |
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Anglo African Agriculture
plc
(“AAA” or the “Company”)
Soft opening
ceremony held for proposed new LPG facility at the Comarco Port
Further to the announcement made by the Company on 12 November 2018 concerning the advancement of a
$1,000,000 loan to the
privately-owned, Kenyan-based port and marine logistics group, the
Comarco Group (“Comarco”), the Board of AAA is pleased to announce
that a soft opening ceremony for the new 11,000 metric tonnes LPG
import and storage facility, constructed on the privately owned
Comarco Port, has taken place.
The first phase of the Mansa East Africa Terminal (a development
project owned by large international LPG trading and transportation
company Petredec Group and their local Kenyan partners, Rift Gas)
will be an 11,000 metric tonnes LPG import and storage facility in
Mombasa, Kenya constructed on the
privately owned Comarco Port.
This state-of-the-art Mounded LPG terminal will be supplied by a
floating storage vessel moored at Comarco’s port. Benefitting from
Petredec’s worldwide presence and Rift Gas’s Kenyan roots, Mansa’s
LPG terminal is the gateway for competitively priced LPG to flow
into an integrated network of distribution depots and supply points
across East Africa.
By early 2020, reliable and timely deliveries of gas from
Petredec, the world’s largest independent LPG trader, will arrive
in Mombasa, providing Kenya and
the entire region with a safe, cost effective energy solution.
Petredec will invest over KSH 5 billion (approximately US$50 million) into the LPG terminal and regional
downstream assets. The facility will comprise 4 x 250 metric tonne
tanks and a floating vessel in phase 1.
David Lenigas, Non-Executive Chairman, commented;
“One of AAA’s primary reasons for becoming involved with Comarco
is based on the Company’s belief that ports are long term growth
assets and this particular port is of considerable strategic
importance to East Africa. We
believe that the construction of this LPG facility adds further
weight to this view. In addition to Petredec’s large financial
commitment to the LPG facility and their belief that Mombasa is a
strategic access point into East
Africa, major oil and gas companies continue to develop
their substantial new off-shore discoveries along the coast of
East Africa further providing
additional port and marine logistics opportunities for the Comarco
Group.”
For further information please
contact:
Anglo African Agriculture
plc |
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David Lenigas, Non-Executive
Chairman |
+44 (0) 20 7440 0640 |
Rob Scott, Executive Director |
+27 (0) 84 600 6001 |
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VSA Capital Limited
(Financial Adviser and Corporate Broker) |
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Andrew Raca |
+44 (0) 20 3005
5000 |
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