S.S. Lootah International has entered into a partnership agreement with Hashi Energy for USD 140m. The deal will help the Kenya-based energy firm undertake United Nations projects across the continent.
The two companies will collaborate to provide the UN’s ‘MUNISCO’ mission in the Democratic Republic of Congo (DRC) with petroleum products, trucks for logistics, food supplies, and financing facilities.
Mohamed Adan, CEO of Hashi Energy Group, said that the deal would also take them into other African countries, including Somalia, South Sudan, Zambia, Mali, Ivory Coast, Chad, and Eritrea. “Hashi is diversifying into food supplies. We have been in various spheres like mining, but now we are getting into food supplies, logistics and construction,” he added.
The agreement was one of the deals struck on the first day of the Dubai Chamber of Commerce trade mission held in March 2015.
Founded in 1991, Hashi Energy engages in the importation, distribution, and marketing of petroleum products in the East and Central African region.
Established in 1999, the Dubai-based S.S Lootah International is focused on developing, managing, and financing projects in the Middle East, Asia, Africa, and Europe.