Kenya’s leading exporter of refined petroleum products in East and Central African region Hashi Empex has announced plans to invest US $4 million to construct a new fuel storage terminal in Kigali, Rwanda.
Kenya’s leading exporter of refined petroleum products in East and Central African region Hashi Empex has announced plans to invest US $4 million to construct a new fuel storage terminal in Kigali, Rwanda.
Hashi Empex Managing Director, Mr Ahmed Hashi made the announcement Wednesday night during a dinner held at the Kigali Serena hotel to mark the signing of a contract to supply 3.5 million litres of fuel per month to Electrogaz, Rwanda’s power generation company.
The firm recently received $14.5 million financing from PTA Bank to service its latest contract to supply fuel to the Rwanda power producer.
In addition Hashi Empex also announced plans to initiate a corporate social responsibility programme in the country.
Mr Hashi said, “Rwanda’s strategic geographical position makes her an ideal hub for the Great Lakes region and Central Africa. It is with this realization that we have chosen Rwanda as our hub for this region. In this regard, we are today announcing our investment in a fuel terminal of 5.5 million litres capacity at a cost of US$ 4 million.”
This will be the first major private fuel storage terminal in Rwanda. The investment will create employment opportunities both directly and indirectly for over 200 Rwandese nationals, further boosting economic growth in the country.
He noted that in line with Hashi Empex’s pragmatic approach to the marketing of petroleum products, the company was now the preferred supplier of petroleum products to ElectroGaz through a contract that the company was awarded at the beginning of this year.
“<4m>We are pleased to confirm to this gathering that we have been able to consistently supply fuel to ElectroGaz , even during the period of the unfortunate political crisis in Kenya earlier this year,” Mr Hashi said.
“Today, we feel honoured and privileged to continue to be the preferred supplier of petroleum products to ElectroGaz new power generation plant.
“As we mark this significant milestone, I wish to reassure you of our commitment to continue to deliver efficient, consistent and unparalleled quality service. This is our hall mark!”
The investment, Mr Hashi said, was in line with Hashi Empex’s vision to “be the leader in the marketing of petroleum products in Eastern Africa”.
“As a responsible corporate citizen we intend to play our rightful role in the area of corporate social responsibility. We are currently engaging various stakeholders in the identification and evaluation of an appropriate social responsibility cause to support,” Mr Hashi concluded.
Rwanda’s Minister for Infrastructure, Linda Bihire who gave the key note address during the function noted: “I am delighted to learn that Hashi Empex has shown confidence in the economy of Rwanda and is in the process of building a terminal of 5.5 million litres at a cost of US $ 4 million.
This terminal will also have an LPG filling plant. We appreciate this investment as it will go a long way in enhancing our strategic stocks.”
The Minister noted with appreciation that Hashi Empex was in consultation with various stake holders to identify a relevant social responsibility cause to sponsor as a way of giving back to the people of Rwanda.
“I want to welcome Hashi Empex with a firm assurance of our full support as they plan to invest in a new terminal here in Kigali and in their bid to identify appropriate corporate social investment programmes that they can support,” she said.
Speaking at the same function Kenya’s Assistant Minister of Energy, Hon Mohamoud Mohamed said, “It is a great show of confidence for Electrogaz to entrust the power generation needs of its country with Hashi Empex. I wish to state that the Government of Kenya is proud of the company for this historic achievement. It goes to show what dedication and hard work can do for you.”
Mr Mohamed said with the Rwandan economy poised to grow, the government appreciated that a rise in demand for energy sector services and products posed great challenges which Hashi Empex was in a position to meet.
