Honeywell will assist in the construction of a new refinery in Kenya backed by Nigerian businessman Aliko Dangote, CNBC Africa reports. The project carries a price tag of $16 billion, according to Reuters and The Citizen, which both report that ground was broken on the East African facility.
The refinery is Dangote's latest move into African downstream energy, following his established role in Nigeria. Reuters describes the Kenyan development as a $16 billion investment, while CNBC Africa frames Honeywell's involvement as a partnership to help build what it calls a mega-refinery.
The project sits within a wider contest over regional energy infrastructure. Daily Nation reports that Tanga, Lamu and Hoima are emerging as rival energy hubs, suggesting several locations are competing for a share of East Africa's refining and logistics business.
Alongside the construction plans, Dangote is offering shares to Kenyan investors. Business Daily Africa reports the shares are priced at 49 shillings and will be listed on the Nairobi Securities Exchange.
What to watch next: whether Honeywell's role is formally detailed and how the share offer on the NSE performs.
