RE: RE: WPX Contestdon´t worry, there´s always a lot of crazyness all around,
i.e. , 1 billion ethiopian birr equals 1 billion usd,
jesus,
did i miss something urgent or is it just a mistake of the ethiopian news machine called free press free speech free spirit ?
here´s the,( initial ?), article:
- Project budgeted at 1 billion birr
Yara Holdings, an agricultural chemicals giant that has beenproviding fertilizers to Ethiopian plantations, requested licensing toestablish a potash-based fertilizer factory in the country inpartnership with Safetec, an Indian corporation, in the Afar regionalstate.
Already engaged in the region in potash mineral exploration since 2007 was Silk Mining Company, a sister firm of Safetec.
Yara and Safetec have formed a joint company, Ethio Potash, underwhich they submitted their licensing request to the Ministry of Mines(MoM) for product licensing and plant erection. “We are undernegotiations with the company,” Sinknesh Ijigu, minister of minesdivulged to The Reporter.
The two giants have allocated a one billion dollar budget for the projects.
Several international conglomerates are eyeing the area for mineralextractions, and many have applied for land deals, according toSinknesh. “Ethiopian potash is top of the line in terms of its quality,”she related regarding the huge interest of businesses in the area. “Andfertilizer is in great demand these days.”
Potash reserve in the Dallol depression in the Afar region – thelowest point below sea level in the world – is estimated at over 160million cubic meters, which, in monetary terms transmutes to 1.5 to twobillion dollars, according to market analysts.
To tap in to this vast reserve, the federal government is on standbyfor the infrastructural input expected of it for the project sites,including road constructions and railway paving. The former is currentlyunderway, handled by Defense Construction Enterprise, but the latterhas yet to be embarked upon.
Safetec has thus far been engaged in technology transfer in thecement industry development in Ethiopia. Notable lants I the companyhelped build include Derba Midroc, and Abyssinia Cement Factories.
Meanwhile, Yara has been in potash exploration on a land expanse of10 square kilometers since 2007, and announced having discovered massivereserves recently. The company has also been providing the Ethiopianagricultural sector with dap and urea fertilizers.
The company was the center of attention in Ethiopia in 2005 when itawarded Prime Minister Meles Zenawi with 200,000 dollars and honored himfor “for his contribution to improved food security and human nutritionin environmental friendly ways” in the wake of the disputed electionsof that year. Meles later went on to donate the money for educationexpansion for women.
source:
https://www.thereporterethiopia.com/News/yara-to-erect-fertilizer-factory-in-ethiopia.html