Addis Ababa, September 18, 2021 (FBC) – Ethiopia and Morocco have signed a Joint venture fertilizer development agreement to be implemented in Dire Dawa, Ethiopia.
The agreement concluded during an Ethiopian high-level delegation visit to Morocco led by Finance Minister Ahmed Shide.
The Moroccan State-Owned fertilizer manufacturer, OCP Group, will set up the plant.
The agreement is based on Feasibility, Conceptual, Environmental and Social Impact Assessment and Hydro & Geotechnical studies that have already been conducted.
The factory is said to use Ethiopian and Moroccan local resources as inputs.
The project will have an initial estimated investment of approximately USD 2.4 billion during the first phase to develop a 2.5 million ton fertilizer production unit, combining Urea and NPK/NPS products.
Then it could reach a production capacity of 3.8 million tons per year, for a total investment of up to USD 3.7 billion during the second phase.
The project is believed to significantly contribute in meeting Ethiopia’s ever growing fertilizer demand.
The Ethiopian government says it is working to well address agricultural challenges of the country.
Source: Ethiopian Ministry of Finance