Aliko Dangote’s conglomerate has increased planned investment in its Ethiopia fertilizer project to more than $4 billion, up from the previously announced $2.5 billion. The expanded development now includes a 3 million metric ton urea plant, a 110-kilometer gas pipeline, a 120-megawatt power station, a polypropylene packaging facility, and a large NPK blending plant. Dangote recently visited the construction site alongside Ethiopian Prime Minister Abiy Ahmed as work progresses on the project. The project operates as a joint venture, with state-owned Ethiopian Investment Holdings controlling a 40% equity stake and the Dangote Group holding a 60% stake. It reflects Ethiopia’s industrial ambitions and Dangote’s strategy to strengthen regional agricultural supply chains and manufacturing capacity across Africa through large-scale industrial investments.
CNBC Africa