Walvis Bay – Nigerian billionaire Aliko Dangote has said his company's proposed fuel storage project in Namibia, which includes the construction of a regional pipeline, is expected to cost approximately $2.5 billion.
The project represents a major investment in Southern Africa's energy infrastructure and could strengthen regional fuel storage, transportation and distribution capacity.
The proposed pipeline component is expected to support the movement of petroleum products across the region, potentially improving supply networks and access to fuel markets.
The investment also highlights Dangote's expanding ambitions in Africa's energy sector, following the development of his $20 billion oil refinery in Nigeria.
Source:Reuters
Reporting:Nyasha Nyaungwa & Wendell Roelf
Writing: Sfundo Parakozov
Editing:Alexander Winning.
