Rwanda: Kagame Says Rwanda Considering Investment in Dangote-Backed Oil Refinery
[New Times] President Paul Kagame said Rwanda would be happy to acquire a stake in Aliko Dangote's planned oil refinery in East Africa, though talks are still in the early stages.
President Paul Kagame of Rwanda expressed openness to investing in Aliko Dangote's proposed oil refinery project in East Africa, although formal discussions are still in their introductory stages. At a press conference in Kigali on August 24, Kagame commented on recent reports suggesting Kenya, Rwanda, and Uganda were offered a 30% stake in the $16 billion refinery, slated for the Kenyan port city of Lamu.
The total investment for the region might reach $1.5 billion, with the refinery capable of processing 700,000 barrels of oil per day, similar to Dangote's Nigerian refinery. Rwanda's President stated his country would be "very happy" to participate in such an investment, though details are still being worked out. The project could cost up to $16 billion, while the broader petrochemical complex and additional port infrastructure might bring the total investment to approximately $20 billion.
Construction is anticipated to take three to five years, with a groundbreaking ceremony planned for September. This refinery would help African nations process their own oil and gas resources, potentially reducing dependence on imported refined petroleum products.
Written by urgent.news from AllAfrica's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
