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A new chapter of African industrial history was open on Thursday when the president/CEO of the Dangote Group, Aliko Dangote, led a revolutionary plant of 2.5 billion dollars to enjoy, in Ethiopia.
The project, a partnership between Dangote Group and Ethiopian Investment Holdings (EIH), with a production capacity of three million tons of urea per year, will become one of the greatest complexes of fertilizers in the world.
Strategically located in the south-eastern region of Ethiopia, it will exploit the abundant resources of natural gas of the country from the Hilal and Calub reserves to increase agricultural productivity, create jobs and improve food safety in the Horn of Africa.
Speaking at the ceremony, Prime Minister Abiy Ahmed described the project of fertilizers as “more than a simple industrial progress”, underlining that “symbolizes shared responsibility, cooperation and peace”.
“They embody our shared responsibility to exploit opportunities, strengthen cooperation and promote peace. Therefore, I invite all Ethiopians to continue mobilizing in the unit for progress.
“In this way, we raise the presence of Ethiopia on the global phase in a way that honors the true spirit of our Ethiopian identity,” Ahmed said.
In his observations, Dangote praised the Ethiopian Prime Minister and his cabinet for reforms and economic liberalization that had opened the key sectors to private investments and positioned Ethiopia as one of the most attractive destinations in Africa for global investors.
He praised government investments in infrastructure, including transport, energy and the great Ethiopian Renaissance dam, which described as a base for the industrialization of the country.
“This partnership with Ethiopian Investment Holdings represents a fundamental moment in our shared vision to industrialize Africa and achieve food safety across the continent,” said Dangote. “We are committed to bringing our experience of decades into large -scale industrial projects to ensure that this company becomes a milestone of the industrial transformation of Ethiopia,” he said.
Dangote has expressed gratitude to financial institutions, including Afreximbank, Africa Finance Corporation, Access Bank, First Bank, Zenith Bank and other indigenous banks for the support of the project.
