Aliko Dangote has signed a 2.5 billion dollar agreement with the Ethiopian government to build a fertiliser plant in the country’s eastern Somali region. The deal was signed in Addis Ababa on Thursday.
Under the agreement, Dangote will hold 60 percent ownership of the plant, while Ethiopian Investment Holdings will retain 40 percent. The project, expected to take 40 months to complete, will produce 3 million tons of fertiliser annually.
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The plant will be connected by pipeline to the Calub and Hilala natural gas fields in Ethiopia’s southeast. Officials say the project will cut reliance on fertiliser imports and ease pressure on the country’s foreign reserves.
Prime Minister Abiy Ahmed welcomed the deal as a landmark for Ethiopia’s food security and job creation. Dangote, who already operates cement and fertiliser businesses across Africa, said the partnership represents a step towards industrialising the continent and achieving food sovereignty.
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