Elenilto recently was chosen by the Togolese government to develop a $1.4 billion phosphate mining and fertilizer plant project in West Africa.
Controlled by Isreali billionaire Jacob Engel, Elenilto is cooperating with Wengfu as its strategic partner. Wengfu is one of the leading international phosphate and fertilizer groups with vast experience in the industry in China and globally.
A number of global financial institutions have already expressed interest in financing the project. Discussions already have begun to assemble the financial consortium to support and provide the required financing to develop the project.
Elenilto will establish a downstream phosphoric acid and fertilizer plant to supply the required nutrients to the agriculture industry as Togo works to increase its African and International fertilizer customers.
“Elenilto has identified the local market shortage and demand for fertilizers products, and shall supply the phosphate, the fertilizers and the phosphoric acid to Africa and the international market,” Alon Avadani, CEO of Elenilto said. “The fertilizers project is the first and the biggest of its kind in West Africa, and shall enjoy relative low operating expenses due to the availability of gas from the [West Afrian Gas Pipeline], the close proximity to the port and the size of project.”
The sales of concentrates produced at the new plant is expected to begin within three years.
