Africa's richest man Aliko Dangote launches $16bn refinery in Kenya - IOL
Aliko Dangote is due to break ground in Lamu on a planned $16bn refinery with a capacity of 700,000 barrels per day, despite an ongoing land dispute and environmental opposition.
The new $16-billion oil refinery project being launched on the Kenyan coast on Wednesday shows that Africa is in charge of its own industrialisation, its builder Aliko Dangote saidΒ at the ceremony.
Dangote created Africa's biggest oil refinery in his native Nigeria, and the east African version at the Kenyan port of Lamu will have a capacity of 700,000 barrels per day -- larger than any in Europe.
"This is Africa coming together to build Africa. Today we are not simply breaking ground for a refinery, we're breaking ground for a new chapter in Africa's industrial journey to a brighter future," Dangote said in a speech.
Dangote and Kenyan President William Ruto were joined by regional leaders including Ethiopian Prime Minister Abiy Ahmed and Ugandan President Yoweri Museveni for the ceremony.
Africa's richest man has framed the refinery as a vital step towards Africa reducing its reliance on imports of refined fuel.
"For too long, our continent has actually been rich in resources but poor in value creation and addition. We have exported crude oil and imported refined products," he said in the speech.
"Such practice only leads to us exporting our jobs and opportunities that should remain on the continent and lead us into importing poverty into our nations. Africa cannot build lasting prosperity by exporting what it has and importing what it needs," he added.
