The Dangote Group, led by President Aliko Dangote, is set to construct a 1,000-megawatt power plant alongside its planned refinery in Lamu, Kenya. The project aims to provide additional electricity capacity for industries in the area. According to Dangote, the refinery will require about 500MW of power, including 450MW for operations and 50MW to cover fluctuations. This will leave 500MW of excess power to be sold to the Kenyan government.
During a fireside chat at the Nairobi Securities Exchange, Dangote disclosed that the company plans to sell the excess 500MW of power to the Kenyan government under an agreement. This move is expected to support industrial development in Lamu by providing a reliable source of electricity for businesses and investors. The power plant in Lamu will be twice the size of the one at the Lekki refinery, which currently generates 500MW for the facility.
The planned refinery in Lamu is expected to become a major industrial project in East Africa, with a capacity of 700,000 barrels per day. The project, which will also include polypropylene and base oil production, is estimated to cost between $15bn and $16bn and is expected to be completed by 2030. The development is anticipated to attract other businesses and services to the area, creating an industrial ecosystem.
Dangote emphasized that the power project will provide a reliable source of electricity for industries in Lamu, making it an attractive location for investors. He stated that businesses and investors can establish operations in the area without having to develop their own power generation capacity. The project is expected to create over 60,000 jobs, both directly and indirectly.
The Dangote Group has been actively involved in various projects in Nigeria and Africa, with a focus on tackling the power crisis in the region. Dangote had earlier vowed to invest $10bn in tackling the power crisis in Nigeria and Africa. The group has also been involved in the development of a petroleum refinery in Lekki, Lagos, which has a power plant generating 500MW of electricity.
On Friday, Dangote hosted Kenyan President William Ruto at the Dangote Petroleum Refinery in Lekki, Lagos, where he revealed that the power plant in Lamu would be twice the size of the one at the Lekki refinery. Dangote expressed his commitment to supporting industrial development in Kenya and the region.
The planned power plant and refinery in Lamu are expected to have a significant impact on the economy and industrial development in East Africa. With the excess power to be sold to the Kenyan government, the project is anticipated to support the growth of industries in the region, creating jobs and stimulating economic growth.
Key points
- The Dangote Group plans to sell 500MW of excess power from its proposed 1,000MW power plant in Lamu, Kenya, to the Kenyan government.
- The planned refinery in Lamu is expected to become a major industrial project in East Africa, with a capacity of 700,000 barrels per day.
- The project is estimated to cost between $15bn and $16bn and is expected to be completed by 2030.
