Dangote Group has signed a $400 million equipment deal with China’s XCMG Construction Machinery Co., Ltd., giving a major boost to its plan to expand the Dangote Petroleum Refinery.
The deal is expected to support the refinery’s expansion from 650,000 barrels per day to 1.4 million barrels per day, a move that could make it the largest refinery in the world.
The company said the agreement will allow it to purchase more advanced construction equipment to speed up work on key projects, including refinery expansion and other infrastructure developments.
Dangote Group added that the new equipment will strengthen existing construction capacity already deployed at the refinery site. The expansion is expected to be completed within three years.
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The refinery has already reached a major milestone, running its Crude Distillation Unit and Motor Spirit production block at 650,000 barrels per day, a first for any refinery in the world.
In a statement, the company described the deal as a strategic investment linked to its long-term growth plans.
“The additional equipment we are acquiring under this partnership will significantly enhance execution across our projects. With this investment, we are positioning ourselves to become the number one construction company in the world,” the statement said.
Dangote Group also said the expansion drive supports its goal of building a $100 billion enterprise by 2030.