Ethiopian Informer
Photo, from the Ethiopian PM Office, shows the signing of Fertilizer Complex Shareholder Investment Agreement between the Ethiopian Investment Holdings and Dangote Group in the Ethiopian capital, Addis Ababa, Thursday.
ADDIS ABABA (EI): The Ethiopian government and Dangote Group have signed a 2.5 billion USD fertilizer complex shareholder investment agreement that will see the country “one of the largest fertilizer producers globally.”
The Fertilizer Complex Shareholder Investment Agreement was signed between the Ethiopian Investment Holdings – the Ethiopian government’s investment arm, and Dangote Group – the continent’s largest investment group, in the Ethiopian capital, Addis Ababa, Thursday.
The Ethiopian Prime Minister Abiy Ahmed, in a statement that followed the agreement, said with an investment of 2.5 billion USD, the planned mega fertilizer project will produce up to 3 million metric tons of fertilizer annually, placing the East African country among the largest producers globally.
He said following the signing of shareholder investment agreement, the two sides will officially launch the project on site.
The Ethiopian government hopes the investment to create jobs locally, ensure a reliable fertilizer supply for our farmers who have long faced challenges, and mark a decisive step in our path to food sovereignty.
The premier said the planned mega fertilizer project is further anticipated to strengthen Ethiopia’s competitive advantage across the continent, while also reflecting the government’s commitment to executing strategic investments that serve our people and our future.
“Congratulations to all Ethiopians on another milestone in our journey toward food security and agricultural transformation. We have started this journey, and we will finish it for our farmers, for our economy, and for Ethiopia’s future,” Abiy said.
