Dangote Industries Limited and the Government of Togo have concluded an agreement to develop and
transform Togolese phosphate into phosphate fertilizers for the West African
sub-region; in a bid to improve consumption of the product in Africa.
With over two billion tonnes of phosphate reserves, Togo is one of the leading
phosphate producers in Africa. By partnering the Dangote Group, the country
intends to benefit from the expertise and investment capacity of Africa’s
largest industrial group, according to a joint release issued by the Dangote
Group and the Communications Department of the Presidency of the Republic of
Togo.
A statement by Apo Group, made available to OpenLife states that with the
completion and commissioning of the Dangote Petroleum Refinery and Fertilizer
complex in Ibeju-Lekki, Lagos, Dangote Group will be the largest ammonia
producer on the African continent.
Ammonia is an
essential ingredient in the transformation of phosphate into fertilizer derived
from phosphates. Under the agreement, Togo will provide access to phosphate
resources and the Dangote Group will provide access to ammonia and to the
Nigerian market.
The project, in line with second pillar of the Togo National Development Plan,
should enable the production of more than 1 million tonnes of fertilizers
derived from phosphates once completed. The cost of the investment is estimated
at about $2 billion and is expected to create several thousand direct jobs.
Mining development work will start before the end of 2019, it added.
On this occasion, Dangote Group also announced the establishment of a cement
manufacturing plant with an annual capacity of 1.5 million tonnes in Lomé. This
plant will use clinker from Togo and Nigeria and will meet both local and
neighbouring countries’ demand, the release noted.
It further added that construction of the Lome plant is billed to start in
first quarter of 2020 and its commissioning scheduled to take place before the
end of 2020. The investment is estimated at $60 million and is expected to
create 500 direct jobs.
Togolese President, Faure Gnassingbé said, “The structural transformation
of our economy is the main objective we have set ourselves in the context of
the 2018-2022 NDP. By processing our phosphate we will not only create jobs but
we will also be able to provide our farmers with good quality fertilizers at an
affordable cost. Having an industrial investor like Alhaji Dangoté shows that
our efforts to improve the business climate are paying off. We intend to
continue in this dynamic for the well-being of Togolese men and women.”
President/CE Dangote Group, Aliko Dangote said, ‘’This partnership is in
line with our transformation agenda in creating prosperity and enhancing
economic development not only in Togo but also in Affrica. In addition,
the Dangote Group is determined in supporting the Government of Togo in its
industrialisation strategy aimed at creating jobs for its citizens and making
Togo an attractive investment destination.’’
The two investment agreements reinforce Togo’s industrialisation strategy
adopted under the 2018-2022 National Development Plan.
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