Dangote Launches $17 Billion Refinery Project in Kenya

Aliko Dangote, President of Dangote Industries Group, has commenced the construction of a $17 billion refinery in Kenya, expanding his refining business into East Africa. Kenya has been offered a 10% equity stake in the project, while Ethiopia and Rwanda have also shown interest, as stated by David Ndii, economic adviser to Kenyan President William Ruto.

The combined investment from the three countries could total approximately $1.5 billion. The refinery, initially planned for Tanga, Tanzania, has been relocated to Lamu, Kenya, after assessing commercial and technical factors.

The project is expected to take about five years to complete and aims to mirror the scale of Dangote's existing refinery in Lagos. Ndii mentioned that private investors, including Tanzanian businessman Mohammed Dewji, have expressed interest in investing in the project.

This initiative is part of Dangote's broader strategy to expand his refining operations and strengthen access to refined fuel supplies in East Africa.