Ethiopia, Dangote Group Ink $2.5 Billion Deal to Build Fertilizer Complex in Gode, Somali Region

Addis Abeba — Ethiopian Investment Holdings (EIH), the government’s strategic investment arm, and Dangote Group have signed a landmark shareholders’ agreement to develop and operate a $2.5 billion urea fertilizer production complex in Gode, Somali Regional State.

According to a statement released today, EIH will hold a 40% equity stake, while Dangote Group will retain 60% ownership. The facility, with a planned capacity of three million metric tons of urea annually, will be among the top five…