The tender process was issued in September and the deadline was 29 September. The transaction advisor will provide advice on the project, including all the detailed financial, technical and legal work required to prepare the National Oil to implement the proposed project from inception to financial close.
The Mombasa port and specifically the onshore jetty at Kipevu Oil Terminal (KOT) is the primary entry point for petroleum imports entering into Kenya and the larger hinterland served by the Port of Mombasa including; Uganda, South Sudan, Eastern Congo, Rwanda, Burundi, and Northwestern Tanzania.
The project aims to provide the infrastructure that will support East African states to export their discoveries to global markets. It also aims to provide facilities for the growing number of international petroleum traders and local oil marketers to load and offload, import and re-export, break bulk and consolidate cargoes of petroleum products for the Kenyan, East African and the larger Eastern Africa market.
The total project investment is estimated at US$500 million.
Kenyan coast is strategically positioned to be a major transit hub for petroleum products destined for other ports along the Eastern Coast of Africa and the Indian Ocean islands. with the growing interest in petroleum exploration in East Africa as a result of the recent high profile discoveries, there is need for East Africa to begin preparing for success by setting up the infrastructure necessary to take the discoveries to the market.