A huge potash plant is set to start construction in Morocco in 2021 to help match a surge in demand for fertilizer globally, Emmerson PLC, the company spearheading the project has announced.
Graham Clarke, head of Emmerson PLC told Reuters that the project that will be constructed in Khemisset ,95 km east of Rabat will be the largest potash plant in Africa.
“Potash is a key ingredient in fertilizer production and demand for it is on the surge globally to meet increasing food needs,” said Mr Clarke.
Construction work will start at the end of 2021 and will cost a total cost of $400 million.
Production is expected to start in 2023, he said. Morocco is itself a potash importer and the mine will help supply the domestic market and beyond.
“With the low capital cost and high margins, the company will generate the payback period in three-five years depending on the potash price,” Clarke told Reuters.
In August, the company released a study showing that the project will create 760 direct jobs, increase Moroccan mineral exports by 8% and generate up to $63 million a year in taxes.