ATG- The Government of Ethiopia signed a Joint Development Agreement with OCP Group, a Moroccan State-Owned phosphate rock miner, phosphoric acid manufacturer, and phosphate fertilizer producer to implement a fertilizer project in Dire Dawa.
The project will have an initial estimated investment of USD 2.4 billion during the first phase to develop a 2.5 million ton fertilizer production unit, combining Urea and NPK/NPS products, and which could reach a production capacity of 3.8 million tons per year, for a total investment of up to USD 3.7 billion during the second phase.
The agreement was reached during a high-level delegation visit to Morocco led by Ato Ahmed Shide Minister of Finance and accompanied by officials from the Ethiopian Chemical Industry Corporation (CIC), the Ethiopian Agricultural Businesses Corporation (EABC), and the Ethiopian Mineral, Petroleum, and Biofuel Corporation (EMPBC).
is firmly believed this project will have significant contributions in meeting Ethiopia’s continuously growing demand for fertilizers(primarily Urea and NPS+). As of 2022, fertilizer imports in Ethiopia will represent USD 1 billion, and could potentially reach USD 2 billion in 2030.
The OCP Group is a Moroccan state-owned phosphate rock miner, phosphoric acid manufacturer, and phosphate fertilizer producer. Founded in 1920, the company has grown into one of the world’s largest producers of phosphate and phosphate-based products.
OCP has access to more than 70% of the world’s phosphate rock reserves. Initially a mining company, OCP has diversified in 1965 to become a phosphate processor, making it one of the world’s leading fertilizer manufacturers. The company holds a 31% market share of the world phosphate product market.
The group employs nearly 23,000 people in Morocco and a number of international subsidiaries. In 2018, its revenues amounted to US$5.884 billion.