Allana Partner ICL Launches Potash For Growth Program in Ethiopia Allana Potash Corp. (AAA) (Allana or the Company) commends ICL ICL, +0.69% (tase:ICL) for its recent announcement initiating its Potash for Growth program in Ethiopia. The program is designed to unlock the potential of agriculture in Ethiopia by promoting balanced fertilization among Ethiopias small and private farmers in order to increase their agricultural productivity and economic benefits from farming. Allana was one of the first companies to realize the importance of various programs conducted by the Agriculture Transformation Agency of Ethiopia. The Company joined the ATA program in 2013 by making a significant financial contribution for its operating budget. Following ICLs s initial investment in Allana, they also made an important decision to support the ATA program as well. Allana and ICL have provided $US600,000 so far to support the various projects of the ATA. Farhad Abasov, Allanas President & CEO commented, The Potash for Growth program initiated by ICL in conjunction with its partners (including Allana) in Ethiopia is an important undertaking in advancing the rapid development of modern agriculture in the country. We are glad to see such a serious commitment from ICL to the development and growth of agriculture and fertilizer sectors in Ethiopia. Allana was one of the first companies to contribute to the Agricultural Transformation Agency two years ago, and Allana continued with its financial contribution to this program in 2014. Not only is this vital for the long-term expansion of Ethiopias farming sector and the countrys critical food security goals, but also for the health and welfare of all of Ethiopian citizens as it will improve crop quality and yields, as well as boost employment in the supporting agri-business and potash mining sectors. As Ethiopian and East African agriculture becomes more modernized and advanced, the use of fertilizers will increase and provide Allanas Danakhil potash project with natural market demand growth for its products. We are pleased to be a part of this agri- renaissance and plan to further support the education of the regions farmers in proper crop nutrient application methodologies. The Potash for Growth program launched by ICL, in collaboration with its Ethiopian partners including Allana and the ATA (Agriculture Transformation Agency of Ethiopia), includes a range of activities to increase awareness by Ethiopian farmers of the benefits of potassium fertilizers.TORONTO, ONTARIO, Jan 14, 2015 (Marketwired via COMTEX) SOURCE; marketwatch
Posted on: Thu, 15 Jan 2015 08:13:55 +0000
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