LAGOS, Nigeria — In a massive move to solidify its status as a global industrial titan, the Dangote Group has signed a $400 million agreement with Chinese machinery giant XCMG Construction Machinery Co., Ltd.
The deal aims to fast-track the expansion of the Dangote Petroleum Refinery and Petrochemicals, with the goal of more than doubling its capacity from 650,000 to 1.4 million barrels per day.
If successful, this would officially crown it the largest refinery in the world.
The partnership is about more than just refining. It is a strategic pillar in the Group's mission to become a $100 billion enterprise within the next four years.
By acquiring a vast fleet of advanced XCMG equipment, Dangote Group is not just building infrastructure, it is positioning itself to become the world's leading construction entity.
The $400 million investment will fuel growth across several industrial sectors over the next three years:
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