Dangote offers East African countries 30% stake in planned $17 billion refinery
Aliko Dangote has offered East African countries a combined 30% equity stake in his proposed oil refinery in Kenya, potentially giving regional investors access to about $1.5 billion worth of the planned project. The post Dangote offers East African countries 30% stake in planned $17 billion refinery appeared first on Nairametrics .
Aliko Dangote has proposed offering East African countries a combined 30% equity stake in a $17 billion refinery project planned for Kenya, according to Kenyan President William Ruto's economic adviser, David Ndii. The proposed refinery would be located in Lamu, a coastal town in southeastern Kenya, and could potentially provide regional investors with access to about $1.5 billion worth of the project.
Kenya's proposed 10% stake would be valued at approximately $500 million, while Ethiopia and Rwanda have also expressed interest in taking stakes in the refinery. The combined regional participation could amount to about $1.5 billion, giving East African countries a direct equity interest in a major energy infrastructure project.
The refinery project, originally planned for Tanzania, would cost around $17 billion and take about five years to complete.
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