TOGO – 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.
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 Africa.
“The Dangote Group is determined in supporting the Government of Togo in its industrialization strategy aimed at creating jobs for its citizens and making Togo an attractive investment destination,” he added.
The African Conglomerate has also announced plans to set up a $60 million cement manufacturing plant in Lomé with a capacity of 1.5 million tonnes to meet both local and neighboring countries’ demand.
The plant, according to the statement, will use clinker from Togo and Nigeria and is expected to meet both local and neighboring countries’ demand.
It further added that construction of the Lome plant is expected to create 500 direct jobs and is billed to start in first quarter of 2020 while its commissioning scheduled to take place before the end of 2020.
With over two billion tonnes of phosphate reserves, Togo is one of the leading phosphate producers in Africa and the partnership between the Government of Togo and the Dangote Group is expected to boost Togolese phosphate utilization.
Togolese President, Faure Gnassingbé said, “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,” the President added.
Under the agreement, Togo will provide access to phosphate resources and the Dangote Group will provide access to ammonia (an essential ingredient in the transformation of phosphate into fertilizer) and to the Nigerian market.
The project whose value is estimated to be about US$2 billion, is in line with second pillar of the Togo National Development Plan and should enable the production of more than 1 million tonnes of fertilizers derived from phosphates.