Addis Ababa November 19/2016 Ethiopia and Morocco have signed an agreement providing for the joint development of an integrated fertilizer production plant worth 2.5 billion USD.
Prime Minister Hailemariam Dessalegn and King of Morocco, His Majesty Mohammed VI presided over the agreement signing ceremony at the National Palace here today.
OCP Group Representative on Moroccan side and Ethiopia's Minister of Public Enterprises inked the agreement, with other higher officials and business persons accompanying the leaders from the two countries at the event.
The two sides also concluded 13 various Memoranda of Understanding (MoU) and other agreements.
The Moroccan OCP Group, a global leader in the phosphate industry, will construct the plant at the Dire-Dawa Industrial Park with expected due year of 2022.
According to OCP Group Representative in Ethiopia, Faycal Benameur, the new fertilizer complex will produce 2.5 million tons of fertilizer per annum in its first phase starting from 2022.