Chairman of Israel Chemical Ltd Visited Ethiopia

Idan Ofer, Chairman of Israel Chemical Ltd (ICL) and Quantum pacific

Idan Ofer, Chairman of Israel Chemical Ltd (ICL) and Quantum pacific, made a two days visit to Ethiopia last week.

ICL, a leading manufacturer and supplier of potash and phosphate fertilizers, has recently bought 30 percent of Allan Potash. On the other hand Allan is a Canadian Company that is under preparation to mine potash in the Afar Regional State.

During his visit, Ofer visited the potash mine in the Dalol Depression. Commenting on the potash exploration he said, “I am happy with the development at the potash exploration site, the future potash mine. Officials of Allana are closely working with the local authority and they are conscious of the demand of the local community. They pay much attention to the local community. So I am happy with that”.

Ofer further noted ICL is planning to build a potash fertilizer factory in Ethiopia at a cost of US$ 600 Million. Before the mining is started at the potash deposit, raw materials will be imported for the production of potash and phosphate fertilizers. But once Allana has commenced mining the deposits potash fertilizer will be produced from the locally mined raw material.

Ofer further explained, “We will primarily supply the potash fertilizer for the local market in Ethiopia. But we will also export some portion of it. We want to make Ethiopia Africa’s potash hub”.

However, the site for the factory has not yet been chosen.

Ofer was accompanied by the CEO and President of ICL, Stefan Borgas. And according to Borgas, ICL has already invested US$ 25 Million on Allan potash project. He added his company is willing to invest an additional US$ 59 Million in the near future.

Borgas noted the fertilizer company will be built within one year. “We will invest US$ 600 million dollars in the fertilizer processing plant. The potash mine and the factory will together open up 5,000 jobs. We have already invested US$ 600,000 in farmers education on the use of fertilizes. There are six hundred demonstration sites all over the country,” he said.

And commenting on the factory site Borgas said Allan and ICL are closely working with the Ministry of Mines and Agricultural Transformation Agency.

The two businessmen has also met with President Mulatu Teshome, Foreign Minister Tedros Adhanom (Ph.D.), Minister of Mines, Tolossa Shagi, and senior officials of the Ministry of Agriculture to discuss investment issues.

Ofer commented he was satisfied with the discussion he had with the officials. “They are supporting our investment projects. They promised us that they will build a 130 km road from the mine to the Djibouti border in the near future. What I like about the Ethiopian government officials is that they encourage investment and they deliver what they promised,” Ofer added.

In addition to this, Ofer is interested in the power generation sector. He commented the Ethiopian government should guarantee power supply if it wants a sustainable economic growth.

Source: The Reporter