NSIA, OCP to develop US$1.4bn Ammonia and Phosphate plant

NIGERIA – The Nigeria Sovereign Investment Authority (NSIA) has signed an agreement with Office Chérifien des Phosphates (OCP) of Morocco, for the development of a US$1.4 billion plant to produce Ammonia and Diammonium Phosphate, under its Gas Industrialization Strategy, reports Vanguard. According to the NSIA, the Multipurpose Industrial Platform Project is a backward integration initiative which builds on the successes of the Presidential Fertilizer Initiative (PFI) and other sovereign bilateral initiatives between Nigeria and Morocco. The project is structured to commercialize Nigeria’s vast natural gas resources and satisfy Morocco’s demand…

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Energy company Konexa to deploy US$100m renewable energy in Nigeria

NIGERIA – British Energy company Konexa has signed an agreement with Kano State Electricity Distribution Company (Kedco) and the Nigeria Sovereign Investment Authority (NSIA) for the deployment of US$100 million renewable energy in Kano State in northern Nigeria. Kano State’s electricity capacity is expected to increase by 2022. This is the promise made by Konexa, a renewable energy producer based in London, UK. The company, which has focused its development strategy on sub-Saharan Africa, recently signed an agreement with Kano State Electricity Distribution Company (Kedco), the company that provides the…

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