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FINANCIAL NEWS
Morocco, Ethiopia ink deal on mega fertilizer plant
20 Nov 2016
(MENAFN) Morocco has signed a deal with Ethiopia in order to build a fertilizer unit aimed at making Addis Ababa self-reliant in fertilizer by 2025.
The agreement, signed by the Ethiopian government and Morocco’s state-owned phosphate mining firm OCP-SA will invest USD2.3bn between 2017 and 2022.
Accordingly, Ethiopia will be able to generate 80 percent of its fertilizer needs through this complex in 2022 and be self-sufficient in fertilizer three years later.
The two sides also inked a slew of pacts on commerce, investment, taxation, agriculture, water and irrigation.
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