A new refinery project is planned for Kenya's Lamu Island, according to OilPrice.com. The facility is expected to have a processing capacity of 700,000 barrels per day.
OilPrice.com reported that a Nigerian billionaire has agreed to build this refinery. The estimated cost for the project is $17 billion, equivalent to Ksh2.2 trillion.
The refinery is intended to serve Kenya and several neighboring countries. These include Uganda, Rwanda, Burundi, South Sudan, and the Democratic Republic of Congo.
Upon completion, the facility would become Africa’s second-largest refinery. It would be surpassed only by Nigeria’s Dangote refinery, as stated by OilPrice.com.
The projected capacity of 700,000 barrels per day would exceed East Africa’s current refined fuel demand. This demand is approximately 450,000 barrels per day, according to the source.
