Dangote group secures $400m deal to boost refinery expansion
Dangote Group has entered a $400 million equipment agreement with XCMG Construction Machinery Company Limited to speed up the expansion of its refinery and petrochemical operations. The deal will provide advanced construction machinery for ongoing and future projects, including refining, petrochemicals, agriculture, and infrastructure. The group aims to become the world’s largest refinery and a $100bn enterprise by 2030. This move will also increase production capacities in polypropylene, urea, and linear alkyl benzene.
TLDR
- Dangote Group signed a $400 million equipment deal with XCMG Construction Machinery Company Limited to accelerate refinery expansion.
- The agreement will support projects across refining, petrochemicals, agriculture, and infrastructure.
- The refinery expansion aims to increase capacity from 650,000 barrels per day to 1.4 million barrels per day.
- The group plans to triple urea capacity in Nigeria and expand polypropylene and linear alkyl benzene production.
- Dangote Group is targeting a $100bn enterprise value by 2030 and aims to become the largest construction company globally.
