Dangote selects Indian PSU for $450 million refinery project
pre-market1 source ↓written by the desknot a recommendation
- deal to manage
- $450 million
- refinery in Kenya
- 700,000-barrels-per-day
- investment
- $16 billion
Aliko Dangote has contracted Engineers India Ltd (EIL) for a $450 million deal to manage the construction of a 700,000-barrels-per-day refinery in Kenya. This project, part of a $16 billion investment, expands Dangote's operations from Lagos to Lamu, enhancing his refining capacity significantly. 💼
The move strengthens EIL's role in international projects, following its previous work on Dangote's Lagos refinery, which is set to double its capacity by 2029. This could boost sentiment in the Indian PSU sector.
Not investment advice. For informational purposes only.