Casablanca – The Ethiopian government has announced that it will partner up with OCP, the Moroccan world leader in the phosphate industry, in a joint $2.5 billion venture aiming to build a fertilizer plant in East Ethiopia, reports Yabiladi. 60 percent financing will be provided by bank loans while the remainder will be covered by the OCP and the Ethiopian government, says Yabiliadi. Just last month, it announced the creation of a joint venture with India’s fertilizer cooperative, Kribhco, aiming to build a large scale fertilizer manufacturing plant in Krishnapatam, India. According to Yabiladi, the OCP has a financing budget of 18 billion dollars to be invested by 2025. This budget aims to finance phosphate and fertilizer production as well as the distribution of phosphoric acid.

Source: Ethiopian News November 16, 2016 17:47 UTC