{"id":43671,"date":"2021-12-22T15:34:23","date_gmt":"2021-12-22T15:34:23","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=43671"},"modified":"2021-12-22T14:20:35","modified_gmt":"2021-12-22T14:20:35","slug":"lake-group-ventures-into-east-africas-jet-fuel-business","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/lake-group-ventures-into-east-africas-jet-fuel-business","title":{"rendered":"Lake Group ventures into East Africa\u2019s jet fuel business"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>Dar es Salaam. Tanzania\u2019s Lake Group has now ventured into jet fuel business after forming a company that will serve the aviation sector.<\/p>\n

The company, which trades as Lake Oil, already started supplying the jet fuel at Kilimanjaro International Airport (KIA) where it invested $4 million for the storage facility.<\/p>\n

Company\u2019s aviation business head Ismail Elagib said they were eyeing to set up the storage facilities at the Dar es Salaam-based Julius Nyerere International Airport (JNIA) and Iringa airport where it has secured the permit for service provision.<\/p>\n

\u201cWe have completed the construction and installation of all the necessary infrastructure at KIA and services commenced since November 25. We can store a million litres which can be increased depending on the demand,\u201d said Mr Elagib.<\/p>\n

He said the provision of services at JNIA and Iringa are expected in the next one month, assuring that the investment was in line with the standards of Tanzania Airports Authority and the Internationa Air Transport Authority (IATA).<\/p>\n

\u201cIringa Airport will be the next after TAA finalises rehabilitation of the runways. In a month from today, we expect to launch our services there. Iringa Airport and JNIA will be launched concurrently,\u201d he said. Lake Group has invested in oil, gas, lubricants, steel and construction with its 6,000 employees around the Eastern Africa region.<\/p>\n

The company, which has fuel storage facilities in Tanzania, Kenya, Burundi and DRC is also eyeing regional aviation markets using its existing potentials.<\/p>\n

\u201cLake Aviation will soon be available in all regional airports. We have started preparations in all other East African countries. This is a plan to be implemented in the two years to come. We know, there is stiff competition but a big opportunity to grow too. We will capitalize on our strengths to win the market,\u201d Mr Elagib said.<\/p>\n

\u201cOn all points from importation to distribution, we use our own infrastructure which will give us a room to offer lower prices to our customers. We have a fleet of more than 700 trucks to make fuel available in all stations. Lake Oil is the second largest oil company in Tanzania in terms of capacity, and for the second time we have been, this year, awarded as the most preferable company in Tanzania,\u201d he said.<\/p>\n

According to him, three air operators are using Lake Aviation fuel so far in KIA and the plan is to win international airlines. \u201cWe want to make sure that we provide our service at the international level and win the international operators,\u201d he said.<\/p>\n

Lake Aviation has storage facility worth a million litres at KIA and the planned facilities at JNIA and Iringa will have the capacity to contain 18 million litres and 450,000 litres respectively.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. Dar es Salaam. Tanzania\u2019s Lake Group has now ventured into jet fuel business after forming a company that will serve the aviation sector. The company, which trades as Lake Oil, already started supplying the jet fuel at Kilimanjaro International Airport (KIA) where it invested $4 million for the storage facility. Company\u2019s aviation […]<\/p>\n","protected":false},"author":84,"featured_media":43670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-43671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nLake Group ventures into East Africa\u2019s jet fuel business - Tanzania<\/title>\n<meta name=\"description\" content=\"Dar es Salaam. 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