Connect with us

Business

Struggling National Oil Puts Up Ksh 566 Million Property On Sale

Published

5 years ago

on

[Image | Courtesy]

State-owned National Oil Corporation of Kenya which has been revealed to be operating at the mercy of bank overdrafts and facilities from commercial lenders has now put up property worth Sh.566 million up for sale.

The oil marketer offered the retail stations and prime land in a listing tender notice on its website. “National Oil Corporation of Kenya invites sealed tenders from eligible candidates to purchase National Oil assets and parcel of land… The assets are sold on “as is, where is” basis.”

The listing delivers a huge blow on the marketer who had announced plans to open 185 new retail stations across the country over the next three years as part of its turnaround strategy.

The properties up for sale which the firm has valued at Sh566 million include two houses — Kunde Road Residential House and Thompson Estate in Lavington Nairobi —and land in Embakasi, Nakuru and Nyahururu.

Advertisement

The petrol stations include Tigoni Service Station along Limuru Road in Kiambu, Hunters Service Station in Makueni County, Londiani Service Station in Londiani Town Kericho County, Sagana Service Station in Sagana Town Kirinyaga County and Bondeni Service Station in Nakuru Town.

This comes as the firm has become a circus for competing political interests and corporate intrigues after earning the dubious distinction of having three CEOs in one month.

Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
Advertisement
Related Content:  State Freezes Embattled Tycoon Humphrey Kariuki’s Assets
Related Topics:

Email [email protected] for news tips, press releases, advertising, sponsored articles and any other inquiries.

Advertisement
Advertisement
Advertisement

Facebook

Most Popular