◆ MixedCapex & Expansion
Dangote Hires Engineers India for $16 Billion Kenya Refinery
A capex & expansion development with market-wide reach.
22 Sept 2026 · NDTV Profit
Engineers India signed a $450 million deal with Dangote to oversea the construction of planned 700-000 barrels-per-day greenfield refinery and petrochemical plant that will be located in the coastal town of Lamu in Kenya.
The analysis
This is a Capacity / capex event. Capacity added into a soft cycle compresses returns for the whole sector; added into a tight one it is the cheapest growth available. The cycle position matters more than the announcement.