Dangote Industries is putting together a financing strategy for a proposed $17 billion oil refinery in Kenya that could become one of Africa’s largest refining investments and reshape fuel supply across East Africa.
The planned facility would process up to 700,000 barrels a day and supply refined products to Kenya and neighbouring markets, reducing the region’s reliance on imported fuel. Dangote plans to draw on a mix of internal funding, debt financing and a potential public offering tied to its refinery business to raise the capital needed.
The project would extend Dangote’s growing energy footprint following the launch of its large-scale refinery in Nigeria, with Kenya’s coastal location offering access to international shipping routes and regional markets. Significant investment, regulatory support and careful execution still stand between the plan and completion, but if it goes ahead, the refinery would mark a major milestone for Africa’s refining industry.
Source: (angolanminingoilandgas.com)