- According to the sources, Emmerson holds a 19-year potash exploration license. The company is expected to invest around $2.5 billion during the period.
British potash manufacturer Emmerson has announced its decision to open a factory in Khemisset, a town 100 kilometers off of Rabat. The feasibility studies were completed a while back and the company announced the venture back in 2019.
The announcement has come at a time when the global price of potash has shot up after the start of the Ukraine war. The company said that it has raised $47 million, for the venture, the first potash production unit in Africa. The British company said that it has obtained the necessary mining license through a local company. According to the sources, Emmerson holds a 19-year potash exploration license. The company is expected to invest around $2.5 billion during the period.
The estimated initial investment for the plant is around $415 million which could be revised upwards to $450 or $500 million. As per the feasibility studies, the annual turnover from the investment post-tax would be around $1.4 billion. The expected annual potash production is 810,000 tonnes. The factory is strategically located to export to Africa, Europe, and US markets.
Also read;
https://trendsnafrica.com/the-gambia-to-import-fertilisers-at-special-rates-from-morocco/
https://trendsnafrica.com/ocp-morocco-braces-up-to-tap-the-rising-global-demand-for-fertilizers/
