Ethiopia and Morocco on Saturday signed an agreement to jointly develop an integrated fertilizer production plant worth abourt $2.5 billion.
The plan will be built by Moroccan fertilizer production firm OCP in Dire Dawa industrial zone in eastern Ethiopia, and is expected to produce 2.5 million tonnes of fertilizer per year in its first-phase operation.
The second phase of the project will raise the company’s fertilizer production capacity to 3.8 million tonnes a year.
The deal was among the various cooperation agreements signed by the two countries in line with Morocco’s King Mohammed’s official visit to Ethiopia.
“The agreements reflect the shared vision of the south-south cooperation rooted on both countries: that African natural resource should be harnessed to drive Africa’s development and shared prosperity,” said a joint communique released on Saturday.
In his Ethiopia visit, King Mohammed VI, has discussed with the Ethiopian Prime Minister Hailemariam Desalegn and met with President Mulatu Teshome on ways of strengthening two countries’ bilateral relations.