Dangote Group is set to break ground on its proposed $16 billion East Africa Petroleum Refinery and Petrochemicals project in Lamu County, Kenya.
The groundbreaking ceremony is scheduled to hold Wednesday in Mokowe, with the refinery projected to process 700,000 barrels of crude oil per day when completed.
The project is expected to source crude from Kenya’s Turkana oilfields and other African producers, with completion targeted for 2030.
Speaking in Nairobi ahead of the ceremony, Aliko Dangote said the refinery would support efforts to increase local processing of Africa’s crude and reduce reliance on imported petroleum products.
Dangote said Africa should move away from exporting raw materials and instead develop industries capable of producing finished products on the continent.
The proposed refinery is also part of Dangote Group’s wider expansion across Africa, with the businessman disclosing plans to invest an additional $50 billion in businesses across the continent.
The Lamu project has faced opposition over land rights and environmental concerns, including a court case and objections from environmental groups.
Dangote, however, said such challenges would not stop the development of industries needed to support Africa’s economic growth.
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He also disclosed that the refinery could eventually be listed on the Kenyan capital market, allowing investors in Kenya and across Africa to own shares in the projec
