Russia’s Uralchem has signed a Memorandum of Understanding (MoU) with Angolan company Grupo Opaia to jointly develop a fertilizer complex.

The companies intend to invest $1.2 billion to $1.3 billion to establish an ammonia and urea complex in Angola with startup planned for 2023. Output of the urea plant will be 1.2 million t/y.

Uralchem will be in charge of the design and construction of the plants along with marketing the output while Grupo Opaia will be responsible for securing permit approvals, gas supply and locating a site.

Dmitry Konyaev, deputy chairman of Uralchem’s board of directors, said the complex will be able to provide Angola and bordering countries with high-quality fertilizers.

 The companies signed the MoU during the Russia-Africa Economic Forum, which was held in Sochi, Russia, on Oct. 23-24. The primary aim of the forum is to create favorable trade and economic relations between the Russian Federation and African countries.