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Gas Company (Tanzania) Limited (GASCO) is a subsidiary of the Tanzania Petroleum Development Corporation (TPDC), and was established under the Companies Ordinance (Cap. 212) on August 13th, 1985. As a company limited by shares, all of its shares are wholly owned by TPDC, making it a sole shareholder of GASCO. GASCO’s authorized share capital is TZS 1,500,000,000 divided into 1,500 shares, with each share valued at TZS 1,000,000.
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GASCO was initially established to implement the Kilwa Ammonia Company (KILAMCO) Project. However, due to unforeseen circumstances, the project did not take off, and GASCO remained a “book company” since its incorporation. This period of inactivity lasted until 2014, when TPDC’s Board of Directors instructed management to ensure that GASCO became fully operational. Currently, GASCO’s primary objective is to participate and undertake downstream natural gas operations in Tanzania and abroad. To that end, several efforts have been made by TPDC and its Board of Directors to revive GASCO since the late 1990s. In 2014, the TPDC Board of Directors resolved to instruct management to ensure that GASCO was fully operational with immediate effect, and as a result, GASCO General Manager was appointed on August 1st, 2014, and the GASCO Governing Board was formed on July 1st, 2017, marking the beginning of GASCO operations as a corporate entity.
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