Kenya Breaks Ground on $17 Billion Oil Refinery in Lamu County
Kenya is set to break ground on a massive $17 billion oil refinery in Lamu County, a project expected to become the largest refining facility in East Africa. President William Ruto will lead the ceremony, with several East African heads of state invited to attend.
The refinery will process up to 700,000 barrels of crude oil per day and serve markets across East and Central Africa. It is backed by Dangote Industries, the Africa Finance Corporation, and other Kenyan and regional investors.
The project's financing plan involves raising about 70 percent of the cost through debt, with shareholders providing the remaining 30 percent. Dangote has offered East African countries a combined 30 percent equity stake, valued at approximately $1.5 billion.
Government advisers estimate that regional producers could supply more than 600,000 barrels per day, while Kenya expects its own oil production to begin toward the end of 2026. Construction is expected to take about three years, with completion targeted for around 2030.