DP Kindiki: Final preparations underway for Lamu refinery groundbreaking next Wednesday
Kindiki said several heads of state and government from East Africa and beyond are expected to attend the event, which will be led by President William Ruto.
NAIROBI, Kenya – Deputy President Kithure Kindiki announced that the final preparations are in full swing for the groundbreaking ceremony of the highly anticipated Lamu Oil Refinery, scheduled for next Wednesday. Kindiki disclosed that a host of heads of state and government from across East Africa and beyond are slated to attend the significant event, which will be spearheaded by President William Ruto.
Addressing a final preparations meeting at his official residence in Karen, Kindiki emphasized the transformative potential of the refinery, hailing it as a landmark project. He painted a picture of Kenya and the broader East African region emerging as a dominant force in petrochemicals and energy logistics. "The Lamu Refinery is a landmark project that will unlock the economy of Lamu and the Coast region, create over 50,000 jobs and propel Kenya’s industrialization agenda," Kindiki stated.
With a projected processing capacity of 700,000 barrels of crude oil per day, the proposed refinery is poised to be the largest in all of East Africa upon completion. Construction is anticipated to span around three years, with the facility set to supply refined petroleum products to Kenya and its neighboring nations. Moreover, the refinery is envisioned to catalyze extensive industrial development in Lamu, encompassing energy, manufacturing, storage, and logistics facilities.
Dangote Industries has presented an enticing offer to East African countries, proposing a 30 percent stake in the refinery and its associated project. Kenya, for its part, has been allocated a 10 percent stake, valued at approximately Sh64.7 billion ($500 million). Rwanda and Ethiopia have also signaled their interest in participating in the regional shareholding.
The Kenyan government is actively planning additional infrastructure around the refinery, including a proposed 1,000-megawatt power plant and a special economic zone to foster manufacturing and other industries.
Written by urgent.news from Capital FM Kenya's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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