Dangote reports purchase of 25 percent stake in Kenya Pipeline Company
The Nigerian industrialist also has a $16 billion refinery project at Kenya’s Lamu port, with capacity of 700,000 barrels per day.
Aliko Dangote has announced that his company acquired a 25 percent holding in Kenya Pipeline Company, the operator of a network carrying petroleum products.
The Nigerian billionaire’s announcement came after Kenyan President William Ruto spoke about private investment in the network. Ruto did not name the investors involved.
Dangote also laid a foundation stone for a $16 billion oil refinery at Lamu port in Kenya. The project has a stated capacity of 700,000 barrels per day. He said it formed part of efforts for Africa to sell finished products rather than export raw materials.
A refinery Dangote already operates near Lagos, Nigeria, has similar capacity. His other business interests span fertilizers, cement and sugar, among other sectors.
