Morocco and Gabon agree to $2.3 billion joint-venture to construct fertilizer factories to serve Africa’s growing agricultural market. King Mohammed VI and Gabonese President Ali Bongo Ondimba (above left) at briefing on potential impact of new production facilities on the region’s agricultural output. Photo: MAP
. – Morocco’s Trade Minister Moulay Hafid Alamy
. Reuters (Libreville, Gabon, March 7, 2014) — Morocco and Gabon have signed a $2.3 billion joint-venture deal to construct fertilizer factories to serve Africa’s growing agricultural market, as the North African kingdom seeks to expand its investments south of the Sahara. The deal, signed during a three-day visit by Moroccan King Mohamed VI to Libreville during a tour of the region, envisages the construction of two factories in each country, making use of Moroccan phosphates and Gabonese natural gas.
Morocco’s Trade Minister Moulay Hafid Alamy said the project’s production capacity would reach 2 million tons of fertilizer a year by 2018, all destined for the sub-Saharan African market. It would create a total of 5,000 jobs in the two countries. “This deal confirms the friendly relations between Morocco and Gabon,” he said at the signing late on Thursday.
Morocco, which has long had strong ties […]