The Digest:
The Dangote Group has signed a landmark agreement with Ethiopian Investment Holdings (EIH) to build a $2.5 billion urea fertilizer plant. This partnership is a major step toward Feeding the Continent by boosting agricultural productivity and enhancing food security.
Key Points:
- Dangote Group and EIH will build a $2.5bn fertilizer plant in Ethiopia.
- The partnership is a 60% (Dangote) to 40% (EIH) equity stake.
- The facility will be one of the world's largest, producing 3 million tons yearly.
- The plant will be located in Gode, Ethiopia.
- The project is expected to be completed within 40 months.
- It will use natural gas from Ethiopia's Hilal and Calub reserves.
- The plant aims to reduce fertilizer imports and create thousands of jobs.
The partnership is a strategic move to industrialize Africa and achieve food security. By leveraging local resources, the project aims to contribute to Feeding the Continent and create economic value.
Sources: Dangote Group
