Nairobi; Kenya: Mombasa-based oil marketer, East African Gasoil Limited (Eagol) has unveiled a multimillion shilling expansion plan as it seeks a foothold in the region’s oil sector.
Eagol Business Support Manager Mr Solomon Munge, said that apart from the firm’s core business of fuel import and export, it seeks to establish a strong base in oil retail business in counties with mega infrastructure development projects.
He said the firm is keen to set up modern fuel stations in the vast Taita Taveta County, especially along the Voi–Taveta Road, a highway being upgraded into an all-weather road courtesy of funding from the African Development Bank (AfDB). "This is a vital road link to Northern Tanzania and we are making plans to liaise with the Taita Taveta County government to invest in modern fuel stations along the highway now under construction," Munge said.
The company also plans to put up similar fuel stations around the Lamu Lapsset project area where port construction of the first three berths is due to kick off and also along the proposed Dongo Kungu bypass corridor in Mombasa and Kwale Counties, respectively.
In Kilifi, Eagol has identified the Mariakani, Kaloleni -Kilifi route as ideal for their expansion. “In these projects, we would be creating jobs to the local populace and help the respective county economies grow,’’ Munge said.
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Eagol Ltd, started as an international edible oil marketing company in 2009, and has successfully built its own industrial value chain under its development strategy. The company initially sold its products from its Jomvu Truck shop in Mombasa West, with a few wholesale clients loading from third party depots before it eventually ventured out of Mombasa.
Now, it has opened branches in Nairobi, Nakuru, Eldoret and Kisumu. The company currently has a monthly turnover in excess of three million litres.