Lamu Mega Refinery Project, to be undertaken by the Dangote Group, has awarded a US$ 450 million Engineering and Consultancy Contract to Engineers India Limited.
Lamu Refinery construction to take 3 years
Under the agreement, which was disclosed in a Mumbai Stock Exchange filing on September 22nd 2026, the state-owned Indian company will be the Project Management Consultant and the Engineering, Procurement and Construction Management Consultant for the proposed Lamu Refinery Project.
The move comes as the Nairobi Securities Exchange(NSE) works out a framework that will enable Kenyan Investors to participate in the Dangote Refinery IPO through units listed on the NSE, with future cross-listed as a matter to be pursued at a later date.
The NSE has reportedly engaged Dangote’s team, with an announcement expected as soon as Kenya’s Capital Markets Authority(CMA) issues its approval seal.
The Dangote Petroleum Refinery & Petrochemicals IPO present an opportunity for Kenyans to participate in one of Africa’s biggest industrial undertaking yet.
Already, AXYS Investment Bank, which is a participant at the NSE, is facilitating access to the IPO through its network of leading brokers in Nigeria. The investment bank is charging a processing fee of 2% for a minimum investment of US$ 2,000.
CMA said the Dangote Petroleum Refinery IPO is regulated in Nigeria and has not been submitted to the CMA for approval. The regulator has cautioned Kenyan investors to verify the authenticity and source of prospectuses or other offer documents, before investing, making payments or sharing personal and financial information.
CMA advised investors to rely only on official communications and transact through licensed market intermediaries.
Aliko Dangote, the Nigerian magnate has disclosed that the Lamu refinery is set for launch on September 30th, targeting to complete the project within three years.
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