Ethiopia, Morocco ink fertilizer plant deal

Ethiopia and Morocco on Saturday signed an agreement to jointly develop an integrated fertilizer production plant worth 2.5 billion U.S. dollars.

The plant, which will produce 2.5 million tonnes of fertilizer per year in its first-phase operation, will be built by the Moroccan fertilizer production firm OCP in Dire Dawa industrial zone, eastern part of Ethiopia.

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.

They cover, among others, areas of agriculture, economy, information technology, culture, water management, and avoidance of double taxation and prevention of tax evasion.

"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 the 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.

They also discussed the establishment of the Joint Ministerial Commission that will coordinate the implementation of the agreements and expand cooperation between the two countries. Enditem