Nigerian businessman Aliko Dangote and Kenyan President William Ruto are launching construction of a planned $16 billion oil refinery in Lamu, Kenya, according to Reuters.
The refinery is designed to process up to 700,000 barrels of crude oil per day and is targeted for completion by 2030. Dangote says the project is intended to reduce East Africa’s dependence on imported refined petroleum products.
The project is also expected to support petrochemical industries and create tens of thousands of jobs. However, questions remain over crude supply, infrastructure and environmental concerns, while a Kenyan court case involving land rights could affect site activities.