Ethiopia, Morocco ink fertilizer plant deal

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ADDIS ABABA, Nov. 20 –Ethiopia and Morocco on Saturday signed an agreement to jointly develop an integrated fertilizer production plant worth 2.5 billion U.S. dollars.

The plant, which will produce 2.5 million tonnes of fertilizer per year in its first-phase operation, will be built by the Moroccan fertilizer production firm OCP in Dire Dawa industrial zone, eastern part of Ethiopia.

The second phase of the project will raise the company’s fertilizer production capacity to 3.8 million tonnes a year.

The deal was among the various cooperation agreements signed by the two countries in line with Morocco’s King Mohammed’s official visit to Ethiopia.

They cover, among others, areas of agriculture, economy, information technology, culture, water management, and avoidance of double taxation and prevention of tax evasion.

“The agreements reflect the shared vision of the south-south cooperation rooted on both countries: that African natural resource should be harnessed to drive Africa’s development and shared prosperity,” said the joint communique released on Saturday.

In his Ethiopia visit, King Mohammed VI, has discussed with the Ethiopian Prime Minister Hailemariam Desalegn and met with President Mulatu Teshome on ways of strengthening two countries’ bilateral relations.

They also discussed the establishment of the Joint Ministerial Commission that will coordinate the implementation of the agreements and expand cooperation between the two countries.

©Alleastafrica and Xinhua

1 COMMENT

  1. Subject: Ethiopia, Morocco fertilizer production plant deal, Nov 20, 2016

    The deal is worth “2.5 billion U.S. dollars.” Wow!
    Morocco is the only country in the Continent of Africa which did NOT want to be a member of the African Union. Reversing its old position, however, recently it applied to be a member of that Union, for its own good reason. And by ‘coincidence’ “Morocco’s King Mohammed’s official visit to Ethiopia” is taking place along with the deal as well as oiling the machinery of membership into the African Union.
    Looking at it from business prism, however, there is nothing wrong with any deal among States around the Globe. And no doubt Ethiopian professional experts surrounding ‘fertilizer production’ have minutely examined the deal from every critical angle for the long-range benefit to Ethiopia as well as consequential insidious harmful effect ‘down the road’.
    Just a free comment from a passer-by in a free World.

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