The Tanzanian corporation has started the building of a reservoir with an estimated value of about kSh 16 billion, and it is anticipated that the project would be finished within the next year.
Taifa Gas Managing Director Veneranda Masoum stated that the reservoir will empower them to buy gas in larger quantities, making it more affordable, and then sell the very same gas at a lower cost to clients.
The reservoir is situated on a 30-acre plot of land in the Dongo Kundu Special Economic Zone.
When it is finished, it will have the capacity to hold 30,000 metric tonnes of liquefied petroleum gas (LPG).
Over 90,000 Kenyans will be able to find work as a result of the launch of a project to construct a liquefied petroleum gas (LPG) reservoir in the Dongo Kundu Special Economic Zone.
These jobs will be located in the Coast region of the country. Taifa Gas made a KSh 16 billion investment in Mombasa, Kenya.
On Friday, February 24, President William Ruto presided over the event that marked the beginning of the project.
Taifa Gas, a Tanzanian gas firm, is in charge of the KSh 16 billion projects that they are doing right now.
According to the Managing Director, Veneranda Masoum, the people of the region will be the ones to carry out the operations to develop the reserve to strengthen them commercially and direct corporate social responsibility efforts (CSR).
According to Masoum, "the initiative we are commencing today does not only seek to make LPG inexpensive, but it also aims to bring jobs and income to a large number of households around the nation."
According to Angela Boke, who works as the director of commercial communication, locals who live close to the construction site of the 30-acre project have already been active in clearing the soil for the construction of the new building.
"We intend to launch distribution centres in 10 different cities throughout the United States."
"There, we will search for land, and the locals are assisting us in preparing such locations," she said.
During the next year, the business that has the long-term goal of producing 30,000 metric tonnes of LPG hopes to begin operations.
Since 2017, Taifa Gas has been making requests to be granted authorization to enter the local energy market.
At the moment, the objective of the project is to create a massive gasoline storage facility in the hopes of lowering the price of gasoline throughout the nation.
Masoum claims that the presence of a large reservoir like theirs will make it possible for them to import gasoline at a more competitive price.
"We couldn't be more excited to be engaged with the local petroleum market and to kick off our operation here in Mombasa in particular."
The ability to store gas will allow us to buy LPG from the global market at a lower cost, which will lead to lower gas prices in this country.
This is one of the reasons why it is anticipated that gas prices will fall in this country.
"When you purchase anything in huge quantities, the price per unit drops," explained Masoum.
The administration of the corporation believes that the entrance of these new employees will bring about improvements in the petroleum industry that will be to the Mwananchi people's advantage.
"We want to make it possible for every person to purchase gasoline for their homes at an affordable price."
"Our visit to Kenya, which will be made easier by the administration of President Ruto, will take place although we are grappling with the difficult problem of climate change," said Masoum.
Ruto reiterated the thoughts and feelings of the business and considered it a good move by the Kenya Revenue Authority (KRA) to remove all taxes levied on LPG to lower petrol prices across the Kenyan market. This was in response to the call provided by the business.
As part of Kenya's efforts to become carbon neutral by the year 2030, as previously pledged by former President Uhuru Kenyatta, the Head of State has said that he intends to guarantee that all Kenyan families have LPG cylinders by the year 2025.
The management added that refilling for domestic use on 13 Kg cylinders will be lower. From an estimated cost, it will retail below Sh 1000.
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