Africa's richest man, Ethiopia and Djibouti to build $660m fuel pipeline
Summary
Nigerian billionaire Aliko Dangote, Ethiopia, and Djibouti agreed to build a $660 million fuel pipeline and storage project linking the two countries. The pipeline will be 120 km long and aims to reduce fuel transport time from Djibouti’s port to Addis Ababa from five days to one.Key Facts
- The project involves a 120 km pipeline from Djibouti’s Damerjog port to Dewele, Ethiopia.
- The storage facility will hold about 400 million liters of petroleum products.
- The pipeline will transport jet fuel, diesel, and petrol in its first phase.
- Ethiopia depends on Djibouti’s port for most of its imports since it has no coastline.
- The project will lower transport time, helping industries like transport, aviation, agriculture, and construction.
- Djibouti will gain from more port activity, job creation, and increased government income.
- Aliko Dangote is expanding his business in Africa with this and other projects, including oil refineries and cement plants.
- Dangote’s refinery in Nigeria processes 700,000 barrels a day, with plans to increase to 1.4 million barrels a day.
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