Five African heads of state inaugurated a $16 billion oil refinery project in Kenya’s coastal town of Lamu, marking the formal start of construction on a facility designed to process 700,000 barrels of crude oil a day. The refinery is now targeted for completion in 40 months, revising the project’s earlier 2030 timetable. Dangote Group will oversee construction and holds stakes in the project. Kenya’s President William Ruto and leaders from Uganda, Ethiopia, Togo and Benin joined Nigeria’s former President Olusegun Obasanjo at the groundbreaking ceremony. Nigerian billionaire Aliko Dangote said Africa should process more of its raw materials domestically rather than export commodities and import finished products. The refinery is intended to use oil from neighboring countries, although Uganda’s President Yoweri Museveni said Kampala would continue with plans for a separate small refinery to process Ugandan crude locally. The project is expected to serve a regional market that Dangote says consumes more than the planned 700,000 barrels per day. Lamu was selected over Tanzania’s Tanga after the site was judged to have deeper waters, stronger ground for heavy equipment and deep-sea access. Rwanda, Burundi, South Sudan and Tanzania sent delegations to the ceremony. The development faces a lawsuit from residents claiming ownership of the land and protests over compensation, while environmental activists have warned that it could damage the coastal marine ecosystem. Earlier project plans included a 1,000-megawatt power plant and 60,000 jobs. Kenya and two other East African countries were previously expected to take a combined 30% stake, while Dangote has said American investors would participate. The refinery is Dangote’s largest proposed investment outside Nigeria and forms part of his plans to invest nearly $50 billion across Africa by 2030.