Ethiopian Leader Joins Regional Counterparts for Launch of Massive East African Oil Refinery Project in Kenya
By Staff Writer
(Nairobi, Kenya) — Prime Minister Abiy Ahmed arrived in Nairobi, Kenya, to attend the official foundation stone-laying ceremony for the Lamu oil refinery, the Prime Minister’s Office announced.
The massive East African oil refinery, being built at Kenya’s Lamu port with Nigerian billionaire Aliko Dangote taking the largest share, requires an estimated investment of approximately 16 billion dollars.
The oil refinery, whose foundation stone is being officially laid today, possesses the capacity to refine up to 700,000 barrels of crude oil per day. Kenyan President William Ruto announced on his official X page that construction of the facility will create approximately 60,000 jobs, bringing a unique opportunity for Kenyans.
Upon completion, the refinery will serve eight market destinations across East and Central Africa, supplying gasoline, diesel, and jet fuel. The designated market destinations include Kenya, Ethiopia, Uganda, Tanzania, Rwanda, Burundi, South Sudan, and the Democratic Republic of Congo.
Under the project structure, lead investor Aliko Dangote will hold a 70 percent equity share, while the governments of Kenya, Ethiopia, and Rwanda have each been invited to hold a 10 percent share. Construction and completion of the oil refinery will take three years. Establishing the facility at Lamu port provides a closer solution for countries like Ethiopia that import refined fuel from afar.
Marking the launch, Aliko Dangote stated that the construction of the oil refinery begins a new chapter for Africa, demonstrating that African governments have begun to build Africa together.
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