Share Name Share Symbol Market Type Share ISIN Share Description
Anglo African NEX:GB00B7V2GY97-GBP NEX Common Stock GB00B7V2GY97
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.00 0.00 0.00 0.00 0.00 0.00 0 -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Anglo African Ag PLC Update- Proposed new LPG facility at the Comarco Port

16/04/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMAAAP 
 
16 April 2019                                           For Immediate Release 
 
 
                         Anglo African Agriculture plc 
                           ("AAA" or the "Company") 
 
 Soft opening ceremony held for proposed new LPG facility at the Comarco Port 
 
Further to the announcement made by the Company on 12 November 2018 concerning 
the advancement of a $1,000,000 loan to the privately-owned, Kenyan-based port 
and marine logistics group, the Comarco Group ("Comarco"), the Board of AAA is 
pleased to announce that a soft opening ceremony for the new 11,000 metric 
tonnes LPG import and storage facility, constructed on the privately owned 
Comarco Port, has taken place. 
 
The first phase of the Mansa East Africa Terminal (a development project owned 
by large international LPG trading and transportation company Petredec Group 
and their local Kenyan partners, Rift Gas) will be an 11,000 metric tonnes LPG 
import and storage facility in Mombasa, Kenya constructed on the privately 
owned Comarco Port. 
 
This state-of-the-art Mounded LPG terminal will be supplied by a floating 
storage vessel moored at Comarco's port. Benefitting from Petredec's worldwide 
presence and Rift Gas's Kenyan roots, Mansa's LPG terminal is the gateway for 
competitively priced LPG to flow into an integrated network of distribution 
depots and supply points across East Africa. 
 
By early 2020, reliable and timely deliveries of gas from Petredec, the world's 
largest independent LPG trader, will arrive in Mombasa, providing Kenya and the 
entire region with a safe, cost effective energy solution. Petredec will invest 
over KSH 5 billion (approximately US$50 million) into the LPG terminal and 
regional downstream assets. The facility will comprise 4 x 250 metric tonne 
tanks and a floating vessel in phase 1. 
 
David Lenigas, Non-Executive Chairman, commented; 
 
"One of AAA's primary reasons for becoming involved with Comarco is based on 
the Company's belief that ports are long term growth assets and this particular 
port is of considerable strategic importance to East Africa. We believe that 
the construction of this LPG facility adds further weight to this view. In 
addition to Petredec's large financial commitment to the LPG facility and their 
belief that Mombasa is a strategic access point into East Africa, major oil and 
gas companies continue to develop their substantial new off-shore discoveries 
along the coast of East Africa further providing additional port and marine 
logistics opportunities for the Comarco Group." 
 
For further information please contact: 
 
Anglo African Agriculture plc 
 
David Lenigas, Non-Executive Chairman               +44 (0) 20 7440 0640 
 
Rob Scott, Executive Director                       +27 (0) 84 600 6001 
 
VSA Capital Limited (Financial Adviser and 
Corporate Broker) 
 
Andrew Raca                                         +44 (0) 20 3005 5000 
 
 
 
 
END 
 

(END) Dow Jones Newswires

April 16, 2019 02:00 ET (06:00 GMT)

1 Year Anglo African Chart

1 Year Anglo African Chart

1 Month Anglo African Chart

1 Month Anglo African Chart
Your Recent History
NEX
GB00B7V2GY97-GBP
Anglo Afri..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20191113 08:23:53