Ethiopian government and OCP seal agreement to implement fertilizer project in Dire Dawa

sunday, september 19, 2021 at 12:08 pm

Addis Ababa – The Ethiopian government has signed a joint development agreement with the OCP group for the implementation of a fertilizer project in Dire Dawa in Ethiopia for a total investment of up to $ 3.7 billion, a the Ethiopian Ministry of Finance announced.

The agreement was reached during a visit by a high-level delegation to Morocco, led by Mr. Ahmed Shide, Ethiopian Minister of Finance, accompanied by officials of the “Ethiopian Chemical Industry Corporation” (CIC), the Ethiopian Agricultural Businesses Corporation (EABC) and the Ethiopian Mineral, Petroleum and Biofuel Corporation (EMPBC), the ministry said.

Under this agreement, a fertilizer complex will be set up in Dire Dawa, using local resources (Ethiopian gas and Moroccan phosphoric acid), underlines the ministry on its twitter account.

The project will require an initial investment estimated at nearly US $ 2.4 billion during the first phase for the development of a 2.5 million tonne fertilizer production unit, combining Urea and NPK products / NPS, which could reach a production capacity of 3.8 million tonnes per year, for a total investment of up to US $ 3.7 billion in the second phase.

According to the same source, the said project will significantly contribute to meeting Ethiopia’s growing demand for fertilizer, knowing that from 2022, fertilizer imports into this country will amount to one billion US dollars and could potentially reach 2 billion. billion US dollars in 2030.

The post Ethiopian government and OCP seal agreement to implement fertilizer project in Dire Dawa appeared first on Archyde.

Source link

See also  The cheapest used cars for 5000 riyals in Saudi Arabia Toyota Camry and Corolla excellent conditions

Leave a Comment