Ruto held multiple bilateral talks, securing multi billion shillings deals with a number of companies and countries at Sharm El Sheikh in Egypt.
President William Ruto concluded his two day engagement in Egypt on Tuesday November 8 at the COP27 conference with multi billion shillings deals.
The head of state secured multi billion shillings deals with a number of companies and countries at Sharm El Sheikh event.
“African COP, let us make Sharm El Sheikh the COP of effective decisions, resolute implementation and ambitious action,” the President explained.
Top of the deals the President secured was the growing of multi-billion fertilizer plant in Kenya.
On Monday, November 7, Ruto announced that Kenya entered into an agreement with a multinational firm to fast-track the development of affordable green fertiliser.
“Under the pact, Fortescue Future Industries and the Government of Kenya will work together to build a 300MW capacity generation green ammonia and green fertiliser facility by 2025,” State House official page tweeted.
President Ruto affirmed that the deal, signed in Sharm El-Sheikh, Egypt, will further move Kenya towards achieving its green energy goals.
“The shift will help reduce our reliance on imports, check the high cost of fertiliser and boost food production,” Ruto said.
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Fortescue Executive Chairman and Founder, Dr Andrew Forrest, added that the partnership will create thousands of new jobs in Kenya.
The President had assured Kenyans before that through subsidies the cost of fertilizers will reduce from ksh. 6500 to ksh. 3500 for a 50kg bag.
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In Egypt, Ruto also signed a climate change deal with the United Kingdom government. UK and Kenya agreed to progress Ksh500 billion in new British investment projects to support the country’s leadership on climate change.
