According to reports the Dangote Group has started building a new $2.5 billion fertiliser plant in Gode, Ethiopia.
This move has that Aliko Dangote’s plan to help Africa to be self dependent on made in Africa by Africa a move that is aimed at reducing the high import costs and also biggest private investments in the history Ethiopia at large.
Reports also disclosed that the fertiliser plant will produce three million metric tons of urea fertiliser every year once it is completed.
Experts has analysed that Urea fertiliser is one of the most important materials farmers use to improve their crop yield. The new plant will make it easier for Ethiopian farmers to buy fertiliser locally instead of depending on imports that are often expensive and delayed.
The Dangote Group will own 60 percent of the project, while Ethiopian Investment Holdings (EIH) will own 40 percent. The plant will be powered by natural gas taken from the Hilala and Calub gas fields in Ethiopia. A special gas pipeline will be built to connect those gas fields to the factory in Gode.
Construction of the plant will take about 40 months, meaning it should be completed in just over three years. During this time, many jobs will be created for engineers, builders, and local workers. When finished, it will also provide long-term employment opportunities for Ethiopians.
The Ethiopian government believes this project will help strengthen the country’s food security, create new industries, and bring in foreign exchange from fertiliser exports. It will also help reduce poverty by supporting farmers and boosting agricultural production.
Speaking about the project, Aliko Dangote said the company is proud to invest in Ethiopia and help the country grow through industrial development. Prime Minister Abiy Ahmed praised the partnership, calling it a strong example of African nations working together to build a better future.
This fertiliser plant shows how African businesses can play a big role in building the continent’s future and improving the lives of millions.
@AlikoDangote @DangoteGroup @AbiyAhmed @EthiopianInvestmentHoldings @GodeEthiopia
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