(Ecofin Agency) - In Togo, Israeli Elenilto, subsidiary of Engelinvest group, and Chinese Wengfu are the winners of an invitation for tenders of USD 1.4 billion on a phosphate deposit capable of producing over 2 billion tons.

To operate this deposit, which Elenilto says “is probably the biggest phosphate deposit south of the Sahara”, the company will install a phosphoric acid and fertiliser plant which production will be aimed at African farmers.

According to Le Parisien, the mine, which operation could generate up to USD 28 billion, will produce annually 5 million tons of phosphate, fertilisers and phosphoric acid.

Elenilto indicated that the contract will be finalised this month and production will start in 2018.