EIL bags over USD 450 million order from Dangote Group for Kenya refinery project
- On Tuesday, State-owned Engineers India Limited secured a contract worth more than $450 million from the Dangote Group to provide project management and EPCM services for a greenfield refinery and petrochemical plant in Kenya.
- Previous collaboration on the Lekki facility in Nigeria established the foundation for this deal, as EIL served as consultant for the 650,000 barrels-per-day Dangote Refinery and Petrochemical Complex.
- Designed to process a wider range of crude grades, the 700,000 barrels-per-day Kenyan plant aims to strengthen East Africa's fuel production, reduce import reliance, and bolster regional energy security.
- EIL shares rose 6.21 per cent to approximately Rs 302.80 following the announcement, climbing from their previous close of Rs 285.10.
- Operating across 17 African countries, the Dangote Group is simultaneously expanding its Nigerian refinery capacity to 1.4 million barrels per day, a move expected to significantly increase Africa's refining output.
64 Articles
64 Articles
Dangote Refinery Shows What African Govts, Investors, Financial Institutions Can Do Together — President Ruto
President of Kenya, William Ruto, has described the Dangote Petroleum Refinery and Petrochemicals FZE as a huge achievement that shows what African governments, investors and financial institutions can do together.
Kenya's President Ruto Tells UN That Africa Wants Investment, Not Aid
Kenya · GEOPOLITICS Key Facts —What happened President Ruto of Kenya, East Africa’s commercial hub, told the UN on 23 September that Africa wants investment, not aid. —The numbers Ruto cited more than US$4 trillion held by African pension funds, insurers, sovereign wealth funds and banks. —The refinery He showcased a planned Lamu refinery, costing […]
Africa's richest man taps India-owned firm for $16 billion Kenya refinery: Report
Aliko Dangote has brought in Engineers India to oversee his planned refinery and petrochemical complex in Lamu, Kenya. The move expands his refining push into East Africa as he targets stronger regional fuel supply.
Dangote's Kenya Refinery Project Launches This Week at Up to $20B
Kenya breaks ground September 30 on the Dangote-backed East Africa Oil Refinery in Lamu, a project priced at $17 billion by Kenyan officials and $20 billion by Aliko Dangote himself, and designed to process 700,000 barrels of crude oil a day at Lamu's deep-water port. It would serve Kenya, Uganda, South Sudan, Rwanda, Burundi and the Democratic Republic of Congo. Disclosed financing for the project totals $1.6 billion against a price tag of $17 …
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