Dangote Industries Limited (DIL) at the weekend opened an application list to raise up to N300 billion in medium-term debt funding from the Nigerian capital market.

The money is to finance the Dangote Petroleum Refinery being built in Lagos and due for completion in the first quarter of next year.

The firm, through a special purpose vehicle fund. Dangote Industries is offering two tranches of bonds to raise up to N150 billion, with a provision to scale up to the full size of its N300 billion registered bond issuance programme.

The book building- a register for prospective investors- for the N300 billion bond issuance is scheduled to close Thursday.

Dangote stated: “The refinery will commence operation by the third quarter of 2022. On the mechanical completion, we are almost finished but we have started hydro testing, almost 70 percent gone, hopefully before the end of third quarter, operation will commence.

coputa:
It will create employment opportunities for nigerians.Dangote is a job creator.

Smithkafors:
After the APC has destroyed Nigeria.

Smithkafors:
Yes, because the exchange rate has doubled. If he doesn't hurry up, he will need more naira to covert back to dollars to finance his company.
Dangote earns in Naira plus other African currencies and not in dollars. Despite getting dollars at way cheaper rates, he is still unable to complete his company. This will tell you how much damage has been done to the economy. Na the banks I pity, cause the financed the major part of the project.

Transcriber:

How does this relate to the news?

Do you need glasses?

Islie:






https://thenationonlineng.net/dangote-shops-for-additional-n300b-to-finance-refinery/


Lalasticlala

Transcriber:

How does this relate to the news?

Do you need glasses?