After Refinery, Dangote Begins Another Project Worth $2.5bn
- Aliko Dangote is set to begin another huge project after the groundbreaking of a $2.5bn fertilizer plant in Gode, Ethiopia
- The project which is the latest of Africa richest man's ambition is expected to have a capacity of three million metric tonnes of urea annually
- The fertilizer plant the company said will boost agriculture, jobs, and food security and Ethiopian government is excited
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The President and Chief Executive of the Dangote Group, Aliko Dangote, has led the groundbreaking of a $2.5 billion fertiliser plant in Gode, Ethiopia.
A statement by the Dangote Group said the project is a partnership between the Dangote Group and Ethiopian Investment Holdings.
Source: Getty Images
The statement also revealed that the fertilizer plant has a production capacity of three million metric tonnes of urea annually and is expected to become one of the world’s largest fertiliser complexes.
The plan is located in Ethiopia’s south-east region, the plant will leverage the country’s abundant natural gas resources from the Hilal and Calub reserves to boost agricultural productivity, create jobs, and enhance food security across the Horn of Africa.
Dangote Commends Ethiopian Leadership
Dangote commended the Ethiopian Prime Minister and his cabinet for reforms and economic liberalisation that have opened key sectors to private investments, positioning Ethiopia as one of Africa’s most attractive destinations for global investors.
He also lauded the government’s investment in infrastructure, including transport, energy, and the Grand Ethiopian Renaissance Dam, describing it as a foundation for the country’s industrialisation, Punch reports.
Dangote said:
“This partnership with Ethiopian Investment Holdings represents a pivotal moment in our shared vision to industrialise Africa and achieve food security across the continent.
We are committed to bringing our decades of experience in large-scale industrial projects to ensure this venture becomes a cornerstone of Ethiopia’s industrial transformation."
He disclosed that the Gode project marks the beginning, with plans to expand into the production of other fertilisers such as ammonium nitrate, ammonium sulphate, NPK, and calcium ammonium nitrate, positioning Ethiopia as a regional hub for fertiliser production.
He predicted that within five years, Ethiopia could become Africa’s leading agricultural nation.
The statement added:
“This investment is Dangote Group’s second major project in Ethiopia. Its cement subsidiary has operated a 2.5 Mtpa plant in Mugher for over a decade, with an additional $400 million committed to doubling its capacity.
"Across Africa, the group’s strategy is guided by the belief that only Africans can develop Africa, with a focus on manufacturing to reduce import dependence"
Source: Getty Images
Prime Minister speaks at ceremony
At the ceremony, Prime Minister Abiy Ahmed described the project as more than just industrial progress, saying it symbolises shared responsibility, cooperation, and peace:
“They embody our shared responsibility to harness opportunities, strengthen cooperation, and promote peace. Hence, I call upon all Ethiopians to continue mobilising in unity for progress.
By doing so, we elevate Ethiopia’s presence on the global stage in a way that honours the true spirit of our Ethiopian identity.”
Dangote reacts to report of mass sack at refinery
Earlier, Legit.ng reported that Dangote Petroleum Refinery and Petrochemicals has dismissed reports of a 'mass' layoff at its multi-billion-dollar plant.
The refinery management stated that it only conducted a reshuffle of its workforce to tackle sabotage incidents that raised safety concerns.
A senior refinery official, who confirmed the authenticity of the letter, rejected claims of a blanket dismissal.
Source: Legit.ng
