Aliko Dangote, The Richest Black Man In The World, Partners With Honeywell For Dangote Refinery Expansion – AfroTech
Aliko Dangote, the richest Black man in the world, and his conglomerate Dangote Group have partnered with U.S.-based Honeywell International Inc. to expand the Dangote Refinery in Lagos, Nigeria.
According to Business Insider Africa, the project aims to increase the refinery’s production capacity to 1.4 million barrels per day (bpd) by 2028, doubling its current output. The agreement with Honeywell will provide technology and services to allow the refinery to process a wider variety of crude oil grades. Honeywell, a Fortune 100 company, will supply catalysts, equipment, and industrial solutions to support the expansion, per Business Insider Africa.
In addition to expanding crude processing, the refinery plans to increase its polypropylene production to 2.4 million metric tons per year through a license for Honeywell’s Oleflex technology, according to the outlet. Polypropylene is used in a range of industrial applications, including packaging and automotive components.
Honeywell has previously worked with the Dangote Refinery, as Business Insider Africa notes. In 2017, UOP LLC, a Honeywell division, supplied equipment including catalyst and dryer regeneration control systems, high-performance column trays, and heat exchanger tubes.
Business Insider Africa notes that financial details of the recent agreement have not been disclosed, though a source familiar with the project suggested the contract could exceed $250 million, depending on the scope of work.
Currently, the Dangote Refinery processes 650,000 bpd, making it Africa’s largest and the world’s biggest single-train refinery, the outlet reports. The facility was designed to meet domestic fuel demand in Nigeria while exporting surplus. In July, the refinery announced a plan to increase production to 700,000 bpd by the end of 2025.
In addition, in October, Dangote unveiled plans to double the refinery’s capacity by adding a second single-train unit over the next three years. Once completed, as Business Insider Africa notes, the expanded refinery could process nearly all of Nigeria’s current crude production, estimated at roughly 1.5 million bpd.
