Yara Oil SA

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Founded in 1983, Yara Oil SA (http://www.yaraoil.com/, referred to as “Yara” or the “company”) is a leading fuel supplier in Mali and was first company to be licensed to import petroleum in 2012. The main business of Yara consisted of supplying fuel to industrial clients until 2017, when the company expanded to establishing fuel retail stations. The company currently owns and operates seven such stations which will be expanded to 27 service stations (“the project”). IFC is considering a €12.2 million loan package  to finance the project. 10 new stations will be in rural areas and other 10 will be in Bamako. The stations will provide a range of products and services including fuel, LPG for cooking, and utilities water, but also food retail, restaurant and ATM. The company has estimated that around 800 m2 of land will be required for each station. The locations for the proposed stations have already been identified of which land for l2 stations has been purchased.  As part of the project, Yara will also pilot electricity charging points for electric vehicles (mainly moto-taxis) and install solar panels in the service stations to meet its own energy demand. Other assets of the company consist of a 7,200 m3 tons fuel storage depot in Kayes, 120 latest generation tanker trucks and one maintenance workshop truck. These assets will not be expanded as a result of the project.