According to an Afreximbank August 2022 press release, the GasMeth compressed natural gas project in Rwanda is estimated to be worth over USD 300 million. When completed, the GasMeth project will enhance the industrialisation process in Rwanda and the East African sub-region, while contributing to the creation of sustainable employment and reduction of carbon emissions in the country.

GasMeth set to reduce Rwanda’s carbon emissions

“We are delighted to have contributed to the ongoing development of this pivotal infrastructure project – which promises benefits not only to Rwanda but to its sovereign neighbours, stimulating as it does the industrialisation of the region whilst helping to reduce Rwanda’s carbon emissions. The Bank looks forward to syndicating the debt finance as the company moves into the project implementation stage,” said Mr. Kudakwashe Matereke, Afreximbank Regional Chief Operating Officer for East Africa.

This project will contribute to SDG7 on clean energy, SDG13 on climate action and SDG8 on decent work and economic growth:

“We would like to thank our financing partners, gas customers, contractors and our Karongi community hosts for attending the ground-breaking ceremony. We look forward to working closely with our main partner Afreximabank in the coming weeks to transition this project into construction and bring it to reality. Our belief in delivering this project and the transformational, economic, environmental and social benefits has never been stronger,” said Mr. Stephen Tierney, Group CEO GasMeth.

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