Suryaa Business Desk: Billionaire Aliko Dangote has officially launched a $2.5 billion fuel storage tank farm and regional pipeline project in the Walvis Bay area of Namibia. Dangote laid the foundation stone for the project alongside the President of Namibia.
The project, managed by the Namibia division of Dangote Industries, involves the construction of large tanks with a storage capacity of approximately 1.6 million barrels of petrol and diesel. A dedicated pipeline will be installed to connect these tanks to the jetty at Walvis Bay port. The long-term objective includes the construction of over 2,000 kilometers of regional pipelines to supply fuel to landlocked countries such as Botswana, Zimbabwe, and Zambia.
The initiative aims to reduce dependence on imported fuels and mitigate the impact of international market fluctuations. Reports indicate that the African Export-Import Bank (Afreximbank) has come forward to provide financial support for the construction. Analysts expect the project to create local employment opportunities and transform Namibia into a key regional energy and logistics hub.