Africa cannot continue to import completed goods for the energy sector while exporting raw materials, according to Aliko Dangote, President/Chief Executive of Dangote Industries Limited. “Africa’s energy industry cannot continue exporting raw materials while importing finished products indefinitely,” he stated. We need to go along a fresh, very independent development path. He said in Lagos after the signing of a US$4.2 billion, 25-year natural gas supply agreement between Dangote Industries Limited (DIL) and GCL Group, the top private energy giant in China, to fuel Dangote Group’s significant growth projects in Ethiopia.According to a statement from Dangote, the agreement, which was inked in Lagos, strengthens one of the most important industrial collaborations between China and Africa to date. overlay-clevercloseLogo The long-term agreement calls for GCL Group to provide steady natural gas to Dangote Group’s planned urea fertilizer production complex in Ethiopia, which would produce three million tons of fertilizer annually. The factory, which is expected to start operations in 2029, is being created under a 60:40 shareholding structure between Ethiopian Investment Holdings (EIH) and Dangote Group. The plant is valued at US$2.5 billion. After it is put into service, the facility will grow into the biggest modern fertilizer manufacturing hub in East Africa, servicing nearby regional markets and completely satisfying Ethiopia’s present urea import need.
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