Africa’s Richest Man Launches Major Oil Refinery Project in Kenya
The Dangote East Africa Refinery is planned to process up to 700,000 barrels of crude oil daily, producing gasoline, diesel and aviation fuel for Kenya and surrounding markets. The facility is expected to help reduce the region’s dependence on imported refined petroleum products.
"I want to promise you that we will come back and commission this refinery 40 months from today," Dangote said during the groundbreaking ceremony.
Kenyan President William Ruto, who attended the event, said the government intends to secure an ownership stake through its National Infrastructure Fund while also allowing members of the public to participate in investment opportunities linked to the project.
"Kenyans from all walks of life have an opportunity to invest in this refinery. Government is going to have a stake in the refinery, and we are going to deploy assets. We do not want anything for free," Ruto said.
Earlier Wednesday, Ruto toured construction machinery gathered at the refinery site and pointed to “the magnitude of the machinery” as evidence of plans to transform Lamu into a major energy and industrial center serving East Africa and other markets.
Dangote also emphasized the speed of preparations, noting that more than 110 pieces of equipment had already arrived at the site, while another 400 units are expected to be delivered within 60 days.
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