The Kenyan President William Ruto has announced that the country is ready to commence construction of the proposed East Africa Refinery in Lamu, a multibillion-dollar project being developed in partnership with Nigerian businessman Aliko Dangote.
Ruto disclosed this on Monday after meeting with Dangote, President and Chief Executive Officer of Dangote Industries, and the Chief Executive Officer of the Africa Finance Corporation, Samaila Zubairu, on the sidelines of the 81st United Nations General Assembly in New York, United States.
The meeting focused on financing arrangements and other preparations required for the commencement of the refinery project.
According to Ruto, the refinery is expected to strengthen energy security across East Africa, create employment opportunities and support industrial development in the region.
“We are ready to break ground on the East Africa refinery in Lamu, a transformative project that will enhance the region’s energy security, deepen local value addition, create jobs and advance our industrialisation agenda,” he said.
The Kenyan president added that the project would open up new economic opportunities while strengthening regional supply chains and positioning East Africa as an energy and industrial hub.
He said his administration was committed to moving the project beyond the planning stage and ensuring that it delivers tangible economic benefits to the people.
“We are focused on turning this landmark project into reality and delivering tangible benefits for the people of the region,” Ruto said.
The proposed Lamu refinery is estimated to cost about Sh2.2 trillion ($17 billion) and is expected to have a crude oil processing capacity of 700,000 barrels per day.
When completed, the refinery is expected to serve markets across East and Central Africa and form part of Kenya’s broader plan to develop Lamu into an energy, industrial and logistics hub.
