Kenya: Construction of Dangote's Lamu Oil Refinery to Start in October

Kenya: Construction of Dangote's Lamu Oil Refinery to Start in October

Nairobi -- Construction of the proposed Dangote oil refinery in Lamu is set to begin in October, Africa's richest man Aliko Dangote has said.

Kenya's oil refinery to benefit from costly lessons Dangote learned in Nigeria

Aliko Dangote reveals Lamu refinery costs drop to $15.5-$16bn, leveraging Lagos experience. Project will create 60,000 jobs, changing East Africa's oil sector.

Dangote Seeks State Protection for $16bn Kenya Refinery

Aliko Dangote has requested state protection from cheap imports for his $16 billion Lamu refinery project in Kenya, which will be 70% debt-funded. The post Dangote Seeks State Protection for $16bn Kenya Refinery appeared first on Business Elites Africa.

Aliko Dangote says his Kenya refinery needs state protection

Aliko Dangote will borrow about $11.2 billion to build his proposed oil refinery at Lamu, and says the plant cannot compete with imported fuel unless the Kenyan government shields it.The Nigerian billionaire put the financing split at 70 percent debt and 30 percent equity on a project he now costs at $16 billion. Lenders would supply roughly 1.45 trillion shillings and shareholders, Dangote among them, about 621 billion shillings."The financing …

Dangote’s Lamu oil refinery to be constructed through debt, own financing

NAIROBI, Kenya, Aug 11 – Construction of Dangote’s Lamu oil refinery will be financed through a combination of debt and shareholders’ funds ahead of construction commencement in October 2026. According to Business Daily, 70 percent of the project’s financing, equivalent to about Sh1.45 trillion, will come through debt, based on a total project cost of Sh2 trillion, which was recently revised downwards from an earlier estimate of Sh2.2 trillion. …

Dangote seeks Sh1.45trn debt for Lamu oil refinery

Despite the project’s scale, Mr Dangote expressed confidence that financing would not pose a challenge for what is set to become one of East Africa’s largest private investments.