Africa’s wealthiest individual selects Indian public sector company for $450 million refinery project in Kenya

Nigerian businessman Aliko Dangote has engaged Engineers India Ltd to oversee the construction of a $16 billion oil refinery in Lamu, Kenya. The refinery, which is expected to have a capacity of 700,000 barrels per day upon completion, aims to enhance energy security in the region by reducing dependence on imported petroleum products.

This initiative is part of Dangotes broader strategy to bolster the oil industry in East Africa, which has historically relied heavily on outside sources for fuel. The project is anticipated to create thousands of jobs during the construction phase and once operational, provide a significant boost to the local economy.

Construction is slated to commence by the end of September as part of an expansive development plan that aligns with Kenyas Vision 2030, which aims to transform the country into a newly industrializing, middle-income nation. This refinery will not only cater to the Kenyan market but is also expected to supply refined oil products to neighboring countries, thus contributing to regional energy stability.