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Aliko Dangote Hires Engineers India for Kenya Refinery Project
Aliko Dangote is Africa’s richest person and leads the Dangote Group.
His group has hired Engineers India Limited to help build a large refinery in Kenya.
The refinery will be located in Lamu, a coastal town.
It is planned to process 700,000 barrels of crude oil every day.
The project is worth $450 million, or ₹4,302 crore.
Engineers India previously helped build Dangote’s refinery in Lagos.
The new refinery is intended to reduce fuel imports and improve energy security in East Africa.
Engineers India’s shares rose after the contract was announced.
Engineers India Limited won a $450 million (₹4,302 crore) contract from Aliko Dangote’s group.
The planned refinery in Lamu, Kenya, is designed to process 700,000 barrels of crude oil daily.
Construction is scheduled to begin in September, according to Engineers India’s September 22 stock exchange filing.
Engineers India previously worked on Dangote’s Lekki refinery, which currently processes 650,000 barrels daily.
Engineers India shares rose 6.21% to about ₹302.80 after the announcement, reaching a 52-week high of ₹304.60.
- Who
- Aliko Dangote’s Dangote Group and India’s state-owned Engineers India Limited.
- What
- Engineers India Limited has secured a $450 million (₹4,302 crore) contract for a new refinery.
- Where
- Lamu, a coastal town in Kenya.
- When
- Construction is scheduled to begin in September; the announcement was filed on September 22.
- Why
- The refinery is intended to reduce fuel-import dependence, strengthen East African energy security, and supply petroleum products to global markets.
Key facts
- Project value
- $450 million (₹4,302 crore)
- Planned location
- Lamu, Kenya
- Planned capacity
- 700,000 barrels of crude oil per day
- Previous partnership
- Engineers India Limited worked on Dangote’s Lekki refinery
- Lekki refinery capacity
- 650,000 barrels of crude oil per day
- Engineers India share price
- About ₹302.80 after a 6.21% rise
- Share price high
- ₹304.60, a 52-week high
Sources
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