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Dangote Hires Engineers India for $16B Kenya Refinery

Bloomberg Markets •
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Aliko Dangote, Africa's richest person, has hired Engineers India Ltd. to oversee construction of his planned $16 billion crude oil refinery in Lamu, Kenya. The Indian engineering firm, majority-owned by the Indian government, signed a $450 million deal to manage the 700,000 barrels-per-day greenfield refinery and petrochemical plant. Construction is set to begin this month in the coastal town of Lamu.

Engineers India Ltd. previously built Dangote's refinery in Lagos, Nigeria, giving them experience with his operations. The firm announced the contract in a filing on the Mumbai stock exchange. This project represents a major infrastructure investment in Kenya's energy sector.