Dangote Refinery has signed a Memorandum of Understanding (MoU) with Engineers India Limited (EIL) to develop the second train of the Dangote Refinery bringing its capacity to 1.4 million barrels per day.
The agreement for the upscaling of the Dangote Refinery, Africa’s largest refinery complex was signed between Ms. Vartika Shukla, EIL’s Chairperson and Managing Director, and Aliko Dangote, Founder, President, and Chief Executive of the Dangote Group.
Proposed Development of Dangote Refinery
The proposed development aims to scale the refinery’s capacity up to 1.4 million barrels per day, an expansion will firmly establish the complex as one of the world’s largest integrated refinery complexes operating from a single location. Furthermore, the project will be complemented by world-class petrochemical and fertilizer facilities.
The expansion is to be funded through a combination of new loans and the potential sale of up to 10% equity in the refinery. It aims to significantly reduce or eliminate Nigeria’s fuel import bill, stabilise domestic fuel supply and support the naira through export earnings and generate tens of thousands of direct and indirect jobs and deepen local content in the oil and gas value chain.