Aliko Dangote has begun construction of a $16 billion oil refinery in Kenya, according to Reuters and Channels Television. The groundbreaking was held in Kenya, Channels Television reported on Wednesday.
The project has drawn opposition over land. The BBC reported that the launch is taking place amid a land protest in Lamu.
Alongside the refinery, Dangote is offering shares to Kenyan investors. Business Daily reported that Kenyans can buy shares for Sh49 through the Nairobi Securities Exchange.
Dangote also addressed the possibility of legal challenges over fuel imports, with Punch Newspapers reporting that he said the company is ready for court cases.
The reporting so far covers the launch, the share sale and local opposition, but not the refinery's capacity, timeline or financing. Those details were not included in the material available.
What to watch next: whether the Lamu land dispute affects construction, and how the share offer performs on the NSE.
