Ethiopia Commences Construction on Landmark $2.5 B Oil Refinery Project
Ethiopia has officially broken ground on a major new oil refinery project in the Gode region a $2.5 billion initiative poised to become the country’s first domestic crude oil processing facility.
The project, led by China’s Golden Concord Group (GCL), is expected to unfold in multiple phases, establishing core refining units before expanding into broader petrochemical output.
Officials say the refinery will enhance Ethiopia’s energy security by reducing reliance on imported fuel products and supporting local industry growth.
Beyond refining, the facility is anticipated to stimulate jobs, attract ancillary investment in logistics, and anchor downstream industrial development in the Horn of Africa.
Regional market analysts view the project as a strategic milestone, aligning with broader Sub-Saharan initiatives to expand refining capacity and foster self-sufficiency.
