Ethiopia, Nigeria's Dangote sign $2.5 billion deal to build fertilizer plant

Ethiopia's government and Nigerian Dangote Group signed a $2.5 billion deal to build a "huge" fertilizer production plant in Gode, in southeast Ethiopia. Aliko Dangote, President of the Dangote group stated that "As of today, it's going to be second largest plant of urea in the world, compared to their own in Nigeria, the same size.

So this is very, very historic and it is by far even more than what Ethiopia is consuming. But by the time it is ready, he know agriculture is being propelled in Ethiopia on a massive level." Brook Taye, CEO of Ethiopian Investment Holdings also stated "This investment agreement that they had signed with Dangote today represents a very important fundamental project for this country.

The overall project is estimated to worth 2.5 billion dollars and the plan is to produce 3 million metric tons of urea fertilizer. The government's share through Ethiopian Investment Holdings will be 40% and the Dangote Group will have 60%."