A ground-breaking ceremony will be held on 30 September for the East Africa Oil Refinery in the Port of Lamu, Kenya, with heavy construction materials received at the port on 26 September – marking the first milestone for the construction stage of the refinery. The project aims to strengthen Kenya’s energy security by reducing dependence on imported refined petroleum.
The refinery aims to process 700,000 barrels of crude oil a day, serving Kenya, South Sudan, Rwanda, Burundi and the Democratic Republic of Congo, with total costs expected to be Sh2 trillion (€13.5 billion). Disclosed financers and their stakes include Mohammed Dewji, $10 million (€8.8 million); Dangote Group, 30% equity stake valued at $1.5 billion (€1.3 billion); and David Ndii, Kenya’s economic advisor, 10% at about $500 million (€439 million) on behalf of the Kenyan government.
Managing director of Kenya’s Port Authority, Captain William Ruto, comments: ‘The arrival of this vessel is very critical and shows the government’s commitment to ensuring this project succeeds. It will be a game changer for the entire region.’
