Mubasher: Moroccan Office Chérifien des Phosphates (OCP) and the Ethiopian Ministry of Public Enterprise (MPE) on Sunday signed a partnership deal of $2.4 billion to develop a world-class fertilizer platform, the office announced on its official website.
The agreement aims to reinforce the economic ties between Morocco and Ethiopia and create a common vision for the sustainable agricultural development, according to the statement.
The first phase of the project targets a fertilizers production of 2.5 million tons annually by 2022, helping Ethiopia achieve self-sufficiency and creating export opportunities, the office added.
“Dawa”, the name chosen by both partners, will produce fertilizer made from Ethiopian potash and ammonia gas, as well as OCP’s phosphoric acid, taking full advantage of both countries’ natural resources.
The Moroccan office expects Dawa to increase its production to 3.8 tons per year by 2025 to meet the growing local demand, and invest an extra $1.3 billion by the end of the second development phase.
