LIVE: Dangote Breaks Ground on $16 Billion, 700,000-Bpd Refinery in Kenya’s Lamu | APT

Join this channel to get access to perks:    / @apt_news   LIVE: Kenya’s President William Ruto and Nigerian businessman Aliko Dangote attend the groundbreaking ceremony for a planned 700,000-barrels-per-day oil refinery in Lamu. The Dangote East Africa Refinery is expected to cost around $16 billion and is designed to supply refined petroleum products to Kenya and other East African markets, reducing the region’s reliance on imported fuel. The project is expected to take around three years to complete. The facility is being developed on Kenya’s coast and is modelled on Dangote’s large refinery complex in Lagos, Nigeria. Regional governments have been offered a combined 30% stake in the project, according to Reuters. The refinery is expected to create tens of thousands of jobs and support industries including petrochemicals and bitumen. Heavy construction equipment has already arrived at Lamu Port ahead of the ceremony. The project is planned as part of the wider LAPSSET corridor and is expected to increase petroleum-processing capacity in East Africa. The project is also facing a legal dispute over land. A Kenyan court has ordered the status quo to be maintained on disputed land pending further proceedings, while Dangote has said the ruling will not prevent the scheduled groundbreaking ceremony. Watch the LIVE groundbreaking ceremony from Lamu, Kenya, featuring President William Ruto, Aliko Dangote and visiting African leaders. #Dangote #DangoteRefinery #Lamu #Kenya #Nigeria #WilliamRuto #AlikoDangote #OilRefinery #Oil #Energy #Africa #EastAfrica #AfricanEconomy #KenyaNews #NigeriaNews #LamuRefinery #EnergyNews #OilAndGas #Petroleum #Fuel