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Aliko Dangote plans to start construction of a major refinery in Kenya by October, boosting East African fuel supplyThe $16 billion refinery aims to reduce reliance on imported petroleum, enhancing regional energy securityDangote’s financing strategy involves 30% equity and 70% debt, ensuring project viability despite its massive scale
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerian billionaire Aliko Dangote has set a fresh October deadline to begin construction of a massive 700,000 barrels-per-day refinery in Kenya, as preparations for the long-planned East African project enter an advanced stage.
The Dangote Group President said the company expects to break ground on the refinery by October, paving the way for construction of what is expected to become one of Africa’s largest refining projects.
Dangote is set to begin the construction of a 700,000 bpd Kenyan refinery in October. Credit: Bloomberg/ContributorSource: Getty Images
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