Commodities
Dangote's East Africa Oil Refinery Launches This Week with $20 Billion Price Tag
The Dangote-backed East Africa Oil Refinery in Lamu is set to launch this week, priced at $17 billion by Kenyan officials and $20 billion by Aliko Dangote himself.
The project will process 700,000 barrels of crude oil a day, serving Kenya, Uganda, South Sudan, Rwanda, Burundi, and the Democratic Republic of Congo from Lamu's deep-water port.
Disclosed financing totals $1.6 billion against a price tag of $17 billion to $20 billion, with Tanzanian billionaire Mohammed Dewji committing $100 million to the project.