Tanzanian liquefied petroleum gas (LPG) supply company Taifa Gas is set to expand its operations into Kenya after being granted permission to set up an LPG plant in Kenya.
The company led by billionaire Rostam Aziz will establish the LPG plant in the country’s Export Processing Zone (EPZ).
The permission granted to Taifa Gas was facilitated by the bilateral agreement between Kenya and Tanzania. The agreement favours investors in the aviation and energy sectors.
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The approval of Taifa Gas to set base in Kenya comes at a time when Kenyan LPG Gas dealers increased the price of the essential commodity.
Cooking gas prices were increased by 15 percent. At the moment, refelling a six-kilograms gas will cost KSh 1,500 while a 13-kilograms cylinder will cost KSh 3,300.
The conpany will also seek to diversify its assets in East Africa as it prepares to add to its existing portfolio of assets across the region.
This includes 35 plants and storage facilities in Tanzania mainland and Zanzibar.
Taifa Gas is one of the companies founded and controlled by Aziz, who was once the largest individual shareholder of mobile operator Vodacom’s operations in Tanzania before he sold his stake for more than KSh 46 billion.
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Aziz has interests in mining, port services, agriculture, media and an extensive real estate portfolio in Tanzania, the United Arab Emirates and Oman.