Nigerian billionaire Aliko Dangote is contemplating Kenya as a web site for a 650,000 barrel-per-day oil refinery he plans to construct in East Africa, the Monetary Instances reported on Sunday, citing an interview with him.
“I’m leaning extra towards Mombasa as a result of it has an even bigger and deeper port,” Dangote mentioned in an interview.
report This comes after Kenyan President William Ruto mentioned final month that the East African nation was discussing plans for a joint refinery at Tanzania’s Tanga port. It was modeled after Nigeria’s Operation Dangote.
However in an interview, Dangote in contrast Kenya’s Mombasa to Tanzania’s Tanga port, saying: “Kenyans are consuming extra. Kenya is an even bigger financial system.”
“The ball is in President Ruto’s palms,” he mentioned. “I’ll do no matter President Ruto says,” he added.
Dangote estimates the refinery will price between $15 billion and $17 billion to construct, the FT reported.
East Africa presently imports all of its refined petroleum merchandise primarily from the Center East, making the area weak to provide disruptions and value will increase seen in the course of the US and Israel’s warfare towards Iran.
Aliko Dangote, Africa’s richest man, mentioned at an infrastructure summit in Nairobi final month that Nigeria’s 650,000-barrel-per-day refinery might be replicated in East Africa if governments within the area supported the hassle.
