Allana Potash Corp. (TSX:AAA,OTCQX:ALLRF) has signed a Memorandum of Understanding for the development and operation of Allana’s potash terminal at the Tadjourah Port, which will be constructed by the Djibouti Port and Free Zones Authority.
As quoted in the press release:
The MOU defines the terms and intent of the parties regarding:
- specific allocation and use of lands within Tadjourah Port for Allana’s potash terminal;
- integration of designs, construction plans and operating plans for Allana’s potash terminal;
- services to be provided by DPFZA to Allana at the Tadjourah port; and
- cooperation in advancing discussions and agreements with governments regarding regulatory, import/export and other sovereign terms, and completion of road and rail infrastructure serving Tadjourah port in time to meet the operational needs of DPFZA and Allana.
Allana Potash President and CEO Farhad Abasov said:
Allana is pleased to have reached this next stage of cooperation with the Djibouti government in developing Africa’s potash export potential. This MOU provides the basis for Allana’s long-term operations in Djibouti and is an indication of our commitment to support the development of Djibouti’s national infrastructure.