The Aga Khan Fund for Economic Development SA, Geneva, Switzerland, and Norway’s Westgass Internasjonal AS will invest $400 million to build a fertilizer plant in Uganda, a move that will help the East African nation reduce dependence on imports, according to Bloomberg.
The Industrial Promotion Services of Kenya, a unit of Aga Khan, and Westgass will build the green-hydrogen fueled plant about 260 kilometers north of the capital, Kampala, according to a statement. The facility will take three years to be constructed after achieving financial closure, said Aleem Karmali, an IPS spokesperson. It will have capacity of 200,000 mt/y.
At least 100MW of power from the 600MW Karuma plant, which is nearing completion, will be committed to the project. Westgass will get support through Norfund, the Norwegian development finance institution, while IPS will receive aid through the British International Investment platform.
Uganda is still seeking investors for a separate stalled phosphate project that was supposed to be built by Chinese companies (GM June 10, 2022).