East Africa: Dangote Offers East Africa 30 Percent Stake in Kenya Refinery
The project could process up to 700,000 barrels a day and may cost about $17 billion, according to Kenya’s economic adviser.
- Nigeria's Dangote Group has offered a 30% stake in a planned $17 billion refinery in Lamu, Kenya, to East African nations, David Ndii, chair of the Council of Economic Advisers for Kenyan President William Ruto, announced in Nairobi.
- The proposed facility in Lamu plans a processing capacity of 700,000 barrels per day, designed to serve Kenya, Uganda, South Sudan, Rwanda, Burundi, and the DRC, replicating Dangote's Nigeria refinery with 650,000 bpd capacity.
- Kenya's 10% equity stake could be worth $500 million, according to Ndii, while the refinery's output would exceed East Africa's current demand of roughly 450,000 barrels per day by about 250,000 barrels per day.
- Lamu's natural harbor, featuring drafts reaching 18 meters, can accommodate fully laden Post-Panamax crude tankers carrying up to 2 million barrels, vessels too large for Mombasa on the Indian Ocean.
- Ndii noted at an economic event in Nairobi that total regional investment is about $1.5 billion, positioning billionaire owner Aliko Dangote to play a larger role in global fuel markets.
18 Articles
18 Articles
Kenya Says Dangote Has Offered It a Tenth of the Lamu Refinery
A Kenyan presidential adviser says Nairobi has been offered 10% of the planned Lamu refinery for about US$500 million, with a 30% block on the table for the region. The post Kenya Says Dangote Has Offered It a Tenth of the Lamu Refinery appeared first on The Rio Times.
Dangote to sell 30% shareholding of new refinery to East African countries – Report
Kenya, where the new refinery will be sited at the southeastern coastal town of Lamu, will take a 10 per cent stake estimated at around half a trillion dollars, the international news outlet stated, citing David Ndii, a top economic adviser of President Ruto. The post Dangote to sell 30% shareholding of new refinery to East African countries – Report appeared first on Premium Times Nigeria.
East Africa: Dangote Offers East Africa 30 Percent Stake in Kenya Refinery
Aliko Dangote is offering East African governments a combined 30% stake in a planned refinery in Kenya as he seeks regional backing for a project designed to cut dependence on imported fuel. Kenya, Ethiopia and Rwanda have shown interest, according to David Ndii, an economic adviser to Kenyan President William Ruto.
Dangote Offers East Africa Nations 30% Stake in New Refinery
East African Nations Offered 30% Share of Dangote’s Kenya Mega-Refinery
Nigeria’s Dangote Group has offered a 30% stake in a planned refinery in Kenya to East African nations, a senior economic adviser to Kenya’s President William Ruto said. Dangote Group, the corporation of Africa’s richest man, Aliko Dangote, plans to build a refinery in Kenya with a processing capacity of as much as 700,000 barrels per day of crude, which is estimated to cost about $17 billion. The refinery on Kenya’s Lamu Island would process c…
Dangote Offers East African States Stake In Planned Refinery
Ethiopia, Kenya, Rwanda express interest Dangote Group has offered East African countries a 30 percent equity stake in the massive oil refinery it plans on constructing in the region, according to Kenyan President William Ruto’s top economic advisor. Kenya’s 10 percent stake would be worth about USD 500 million, David Ndii told a capital markets forum in Nairobi late on Thursday, adding that Ethiopia and Rwanda have already shown interest, Bloom…
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