Perspectives from ISB

The Dodsal Group was founded in Mumbai, India, in 1948 by the Nandlal Kilachand family as a trading company in partnership with a British trading company (DODWEL) and Mr. Karsa Salem. The Dubai-based Group is currently led by Chairman Dr. Rajen A. Kilachand.

Recently the group announced a major natural gas discovery in Tanzania. The discovery in the Ruvu Basin, which is around 50 km from the capital Dar-es-Salaam, is estimated to contain over 2.7 trillion cubic feet (TCF) of natural gas deposits with a value of $8 billion to $11 billion at current market prices. It is Tanzania’s biggest onshore gas discovery, and would be developed solely for domestic use. Production is expected to begin in the first quarter of 2018

The group also announced plans to invest a total of $500 million in gas exploration and production (E&P) in Tanzania. It is planning to pump $300 million of existing equity into the country over the next two years, and is in talks with a range of banks to secure an additional $250 million to $300 million of debt financing.


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