Afreximbank pledges $1.4 billion for Angola’s Fertilizer Plant , signaling a major agricultural advancement. Set to begin production in 2027, the project, signed today in Luanda, aims at national self-sufficiency. Afreximbank and Amufert, under Opaia Group, will manage the Soyo-based facility. Moreover, Benedict Oramah, President of Afreximbank, emphasized the plant’s impact on the country’s food sovereignty.
He noted the critical need to reduce reliance on erratic international exports. Currently, Angola imports fertilizers worth over $1.4 billion annually, highlighting the urgency for local production.
Angola’s Fertilizer Plant a Part of Angola’s General Development
Afreximbank is allocating $2.2 billion to boost Angola’s development, including major projects like Cabinda refinery. The bank is also discussing support for the Lobito refinery with Sonangol, Angola’s state oil company.
Diamantino Azevedo praised the project’s readiness and global competitiveness. He credited Sonangol for providing the necessary 10% of gas via Sonagás.Additionally the government has facilitated this by setting a competitive gas price and providing limited guarantees.
Moreover, they also signed a deal with Opaia Group and K-Mineração for a potassium concession in Cabinda, boosting compound fertilizer production. He criticized Western and Asian banks for favoring their national interests, but praised Afreximbank for its fair approach.
Kapaia shared that the project, costing about $2 billion, will produce 1.3 million tons annually. This will eliminate Angola’s need to import fertilizers, transforming its agricultural sector. This initiative not only secures Angola’s agricultural future but also encourages African self-reliance, reducing the continent’s exposure to global supply chain disruptions.
Similar Projects
Cabinda phosphate project is an open-pit mining and fertiliser production development located in Cabinda Province, Angola, Central Africa.
The project is being developed by a joint venture between Minbos Resources (85%) and local partners (15%).
The scoping study for the project was completed in August 2020 while the definitive feasibility study (DFS) was completed in October 2022. The estimated initial capital cost for the development is $54.17m while the expected mining life is 20 years.
Scope of the Cabinda Project
The project involves the construction of the Futila fertiliser plant in Cabinda, north-west Angola, and mining of the Cacata phosphate deposit. Mining operations are expected to commence in the fourth quarter (Q4) of 2023.
The phosphate deposits and phosphatic horizons of Cabinda consist of marine and fluvial gravels sands and silts within the Cretaceous and Eocene sediments of the Atlantic coastal basin.
The Eocene age deposits within the basin are locally referred to as the Upper Phosphate Member, the Pebbly Foraminiferal Clay and Limestone Unit, and the Lower Phosphate Member and are of Maastrichtian or Eocene age.
Developers of the Cabinda Project
Engineering company DRA Global was engaged as the principal engineer for the DFS and was responsible for the process plant design and costing, including infrastructure for the granulation plant.
Moreover, the International Fertilizer Development Center (IFDC) conducted the fertiliser trials, granulation, and beneficiation pilot testing, provided process design inputs, and performed marketing studies. FEECO International provided the plant equipment design.
SRK Consulting was responsible for the mineral resource statement while Orelogy provided the pit’s optimisation, mine design, scheduling, mineral reserve statement, and contract mining cost estimation.
Lasely, HCV Africa was responsible for conducting the environmental baseline and social studies while Grupo Simples was engaged in the Environmental Impact Study and Waste Management Plan.
Also read: US$1.3 Billion Lobito Corridor Development Deal Signed by Angola
