Ethiopia to rank 2nd in SSA’s urea production with Dangote’s 3mmt fertiliser plant
With the signing of an agreement to develop, construct, and operate a world-class urea fertiliser production complex in Gode, Ethiopia, the country will become the second in Sub-Saharan Africa to own a Urea Plant, with a capacity of three million metric tonnes.
The historic agreement underscores the significance of what the President of Dangote Group, Aliko Dangote, has always been saying, that it is only Africans who can develop Africa, and he has urged wealthy Africans to look inward and invest in the continent, rather than take their wealth overseas, spokesperson of the Dangote Group, Anthony Chiejina, disclosed to the media.
“Both Tanzania and Mozambique, in the past decade, have not been able to build a Urea Plant, despite having a large deposit of Gas in their respective countries. They have both depended on imports, as no foreign investor was willing to stake their funds into the project.”
On Thursday, Ethiopian Investment Holdings (EIH), the strategic investment arm of the Government of Ethiopia, and Dangote Group announced the signing of a comprehensive shareholders’ agreement to develop, construct, and operate a world-class urea fertiliser production complex in Gode, Ethiopia.
Under the partnership structure, EIH will hold a 40% equity stake, while the Dangote Group will maintain a 60% ownership of the transformative project, representing one of the largest industrial investments in Ethiopian history.
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