Kenyan taxpayers likely to shoulder oil refinery’s debts
The Kenya Petroleum Refineries Ltd plant in Changamwe, Mombasa. A takeover deal with the Kenya Pipeline Company failed to sail through. PHOTO | FILE
Kenyan taxpayers may have to bear the burden of repaying debts and compensation owed by Kenya Petroleum Refineries Ltd after a takeover deal with the Kenya Pipeline Company fell through.
Less than three years after the Kenya government paid $1.7 million for the 50 per cent stake held by Essar Energy in 2014, taxpayers yet again face the burden of taking over KPRL’s financial obligations with various commercial banks.
