Tanzanian billionaire Mohammed Dewji has announced plans to invest $100 million in Aliko Dangote’s proposed oil refinery in Kenya, signalling confidence in the multi-billion-dollar project aimed at expanding refining capacity in East Africa.
The refinery, estimated to cost $17 billion, is expected to be modelled after the 700,000 barrels-per-day Dangote Refinery in Nigeria, currently Africa’s largest single-train refinery.
Dewji’s planned investment comes after Dangote confirmed that the new refinery will be built in Lamu, Kenya, ending speculation over its location. Tanzania had previously been considered as a possible host for the project.
When completed, the facility is expected to become the second-largest refinery on the continent and help reduce East Africa’s reliance on imported petroleum products.
The project is also expected to create jobs, support industrial growth and strengthen energy security across the region. Further details on the construction schedule and financing arrangements have yet to be announced.
