Afreximbank, OPAIA Group partner to construct US$2B fertilizer plant in Angola

ANGOLA – The African Export-Import Bank (Afreximbank) and the OPAIA Group, a construction company located in Luanda,  have partnered to construct a US$2 billion ammonia and urea fertilizer plant in Soyo, Angola.

This ambitious project, spearheaded by OPAIA Group’s subsidiary Amufert S.A., aims to reduce Angola’s reliance on imported fertilizers, boost agricultural productivity, and advance the country’s economic diversification.

As the Mandated Lead Arranger, Afreximbank is providing US$1.4 billion in debt funding in collaboration with partner financial institutions. The Bank’s Advisory and Capital Markets division will also play a critical role in securing additional equity investments to ensure the project’s financial success.

The signing ceremony was attended by senior officials from Afreximbank, Angola’s senior government officials, among them the Minister of Natural Resources, Minerals and Petroleum; the Minister of Agriculture; the President of the Sovereign Wealth Fund of Angola (FSDEA); and the CEO of Sonangol.

Members of the diplomatic corps were also in attendance, underscoring the project’s international significance for Angola’s industrial and agricultural transformation.

“Afreximbank is pleased to lead the mobilization of capital for this project, recognizing its critical role in supporting Angola’s agricultural development and fostering regional food sovereignty,” said Ms. Oluranti Doherty, Managing Director of Export Development at Afreximbank.

The fertilizer plant will produce 4,000 tons per day of ammonia and urea, a development expected to revolutionize Angola’s agriculture by ensuring a consistent supply of high-quality, affordable fertilizers.

This will empower local farmers, enhance crop yields, and strengthen the nation’s food security.

Additionally, Surplus production will enable Angola to become a key fertilizer exporter within Africa, fostering regional economic integration and promoting intra-African trade.

Mr. Agostinho Kapaia, Chairman of OPAIA Group, highlighted the broader implications of the project.

“This is more than a factory. It’s a driving force for Angola’s industrial and agricultural growth and a key step toward ensuring food security for future generations. We thank Afreximbank for its unwavering support and belief in this vision.”

According to Kapaia, the project is backed by globally renowned technical partners, including KBR, TOYO Engineering Corp., WeDO, and Wuhan Engineering Co., ensuring world-class expertise in its execution.

The plant is expected to generate 4,700 jobs; 3,500 during the construction phase and 1,200 permanent positions post-completion.

Construction of the plant is set to begin in 2025, with operations expected to commence in 2027.

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