The African Export-Import Bank (Afreximbank) has been appointed as the exclusive financial advisor for the $1.7 billion Suiso Project, a large-scale coal-to-fertiliser initiative set to be developed in South Africa’s Mpumalanga province.
Afreximbank announced on Wednesday that its Advisory and Capital Markets Department will lead efforts to structure and mobilise the necessary capital for the project’s implementation.
The Suiso Project aims to bolster sustainable agriculture and food security in the region by utilising advanced gasification technology for fertiliser production.
The facility, backed by a consortium of energy and industrial firms, is expected to reduce South Africa’s reliance on imported fertilisers while strengthening local agricultural output.
Suiso, recently established to focus on ammonia and fertiliser manufacturing through fossil-fuel gasification, plans to introduce a blue ammonia production plant with a daily capacity of 2,200 tonnes.
The facility will also yield 2,600 tonnes of urea and 1,600 tonnes of ammonium nitrate per day, alongside low-density ammonium nitrate using prilling technology.
Excess ammonia from the plant will be sold in bulk, further contributing to the regional fertiliser market.
JN/APA