Ethiopia Investment Holdings (EIH), the strategic investment arm of the Government of Ethiopia, and Dangote Group have announced the signing of a comprehensive shareholders’ agreement to construct a world-class urea fertilizer production complex in Gode, Ethiopia.
Under the partnership structure, EIH will hold a 40 per cent equity stake while Dangote Group will maintain 60 per cent ownership of the project.
The ambitious project will establish one of the world’s largest single-site urea fertilizer production complexes, with production facilities boasting a combined capacity of up to three million metric tons per annum. The facility will rank among the top five largest urea production complexes globally.
Under the agreement, the two companies would jointly develop, own, construct, operate, maintain, insure, and finance the state-of-the-art urea fertilizer plant and associated infrastructure, according to a statement by Dangote Spokesperson, Tony Chiejine.