Africa
DANGOTE MOVES AHEAD WITH MASSIVE $16 BILLION EAST AFRICA OIL REFINERY IN KENYA
Nigerian billionaire Aliko Dangote and Kenyan President William Ruto are moving ahead with construction of a $16 billion oil refinery in Lamu that could fundamentally reshape East Africa's energy market. The proposed 700,000 barrel per day facility is targeted for completion by 2030, could create more than 50,000 jobs and is intended to reduce the region's heavy dependence on imported petroleum products. But questions over financing, crude supply, infrastructure and environmental concerns remain major tests for the ambitious project.
BigV•2h ago•1 min read