Business is our main product!

We are responsible for giving you a place to invest and increase your capital!

  • Date of publication: 31 August 2020
  • 3691
  • businessbuysale.com
  • Billionaire Dangote will build one of the world's largest refineries in Nigeria worth $ 10 billion

    Synopsis

    The richest man in Africa, billionaire Aliko Dangote, plans to build one of the world's largest refineries in Nigeria by 2020, the project cost is estimated at $ 10 billion, reports Bloomberg.

    • Share:
Description

The richest man in Africa, billionaire Aliko Dangote, plans to build one of the world's largest refineries in Nigeria by 2020, the project cost is estimated at $ 10 billion, reports Bloomberg.

 

The refinery will be located next to the business capital of Nigeria - the city of Lagos.

By mid-2020, when the company reaches its full capacity, it will process 650,000 barrels of oil a day, said Dangote Industries Ltd. CEO. Edwin Devakumar.

"It's still hard for people to believe that we can do everything on time and within budget," he said in an interview with Bloomberg. "But I believe we can." Projects of this magnitude have so far been few. It's huge. "

The estimated volume of gasoline production is about 50 million liters per day, diesel fuel - 15 million liters per day. The ratio between oil products may vary depending on the current demand, said E.Devakumar.

Nigeria currently consumes about 35 million liters of gasoline per day, so at first the surplus will be exported.

Forbes estimates the state of 61-year-old A. Dangote at $ 12.2 billion. The billionaire earned this money on cement production - his company is the largest in this segment in Africa, as well as the trade in sugar, flour and other agricultural products.

 

finance.ua