PRIMEFUELS KENYA LIMITED
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
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
- http://www.deginvest.de
- Region
- Africa
- Country
- Kenya
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 6/30/2017
- Total FMO financing
- USD 3.00 MLN
- Funding
- FMO NV
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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) - B+