PRIMEFUELS KENYA LIMITEDStatus: Approved investment
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Who is our customer
FMO provides a co-borrower facility to Primefuels Tanzania Limited and Primefuels Kenya Limited, both logistics companies focusing on the transport of fuel, palm oil, edible oil etc. Its fleet consists of both trucks and rail assets. The companies focus on delivering high-quality transport services and distinguish themselves in the market through reliable service and high operational and safety standards.
What is our funding objective?
The purpose of the financing is expansion as well as the refurbishment of the existing fleet by means of acquiring high-quality assets. This enables the client to better service its existing clients while attracting new ones as well.
Why do we fund this investment?
The FMO financing enables the transport of lubricants to regions where this is not readily available.
What is the Environmental and Social categorization rationale?
Primefuels Tanzania and Primefuels Kenya are considered top players in the market on operational standards and environmental safety. The project is rated IFC PS B+. While all Performance Standards are applicable to this investment, environmental and social due diligence indicates that the investment will have impacts which must be managed in a manner consistent with the following Performance Standards: PS 1: Assessment and Management of Environmental and Social Risks and Impacts; PS 2: Labour and Working Conditions; PS 3: Resource Efficiency and Pollution Prevention; PS 4: Community Health, Safety and Security. In addition to the General EHS Guideline, the known to be relevant sector-specific Environmental, Health, and Safety Guidelines guidelines is Retail Petroleum Networks.
- Website customer/investment
- Infrastructure, Manufacturing and Services
- Effective date
- Total FMO financing
- USD 3.00 MLN
- FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)