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HomeWealthAustralian Billionaire Andrew Forrest Partners with Gov’t to Build a Fertilizer Plant

Australian Billionaire Andrew Forrest Partners with Gov’t to Build a Fertilizer Plant

Australian billionaire Andrew Forrest’s Fortescue Future Industries is set to build a 300-megawatt (MW) green ammonia and green fertilizer plant in Kenya by 2025.

Speaking during the UN Climate Change Conference (COP27) in Egypt, President William Ruto said the fertilizer plant will be built under a partnership agreement between the Kenyan government and Fortescue.

The Head of State noted that the new development is part of his efforts to boost food production and combat food insecurity in the region.

The partnership was signed in Sharm El-Sheikh, Egypt; Forrest was present at the signing of the deal.

“The shift will help reduce our reliance on imports, reduce fertilizer costs, boost food production, and ultimately mitigate the risks posed by food insecurity,” Ruto said.

As earlier reported on WoK, Kenyan tycoon Julius Mwale recently held a meeting with Sierra Leon President Julius Bio to discuss extension of his tech business in the country. 

In a press release, Mwale Medical and Technology City (MMTC) announced the expansion, further informing of an investment tour into the West African country by a delegation led by Mwale.

MMTC announced plans to invest in a smart city with focuses on agriculture, healthcare, energy, transportation and manufacturing.

Mwale and his team headed to Sierra Leon after attending  President William Ruto’s inauguration on September 13.

In May, Mwale announced a partnership with an American firm to build a battery firm in DR Congo.

According to Business Daily, the US Engineering and infrastructure firm KE International enlisted Mwale as one of its partners in the project.

In a statement, Mwale said the battery plant will power smart cities in Kenya and other countries across Africa by providing electric power storage batteries.

“We are investing in building a 16 Gigawatt (16 terawatt) battery manufacturing plant in the DRC, to help power our smart cities in Kenya and the rest of Africa,” he said.

Mwale said he reached the deal during a global conference with a number of financiers including partners for the upcoming project.