Kenya Says Dangote Has Offered It a Tenth of the Lamu Refinery
A Kenyan presidential adviser says Nairobi has been offered 10% of the planned Lamu refinery for about US$500 million, with a 30% block on the table for the region. The post Kenya Says Dangote Has Offered It a Tenth of the Lamu Refinery appeared first on The Rio Times .
Kenya has reportedly been offered 10% of the planned Lamu refinery, valued at about US$500 million. This offer comes from Dangote Industries and was discussed at a capital markets forum in Nairobi on 20 August by the country's economic adviser, David Ndii. The refinery is designed to process 700,000 barrels of crude oil per day, matching the output of Dangote's Lagos refinery.
The entire project, including port infrastructure, is estimated to cost around US$20 billion, down from an initial estimate of $20 billion. Kenya, Ethiopia, and Rwanda have collectively been offered a 30% stake in the regional refinery project, valued at roughly US$1.5 billion.
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