Fairfax Africa Fund, a U.S.-based investment firm, in collaboration with multiple partners, had plans to build a $4 billion oil refinery in Ethiopia; however, according to Bloomberg, the oil refinery plans have been shelved.
Fairfax Africa Fund was working on the project with multiple Asian investors.
The proposed 120,000-barrels-a-day plant was to be located in Awash, east of the capital Addis Ababa.
