A local fertiliser-manufacturing company called Shire Fertilisers will be launched next year.
Shire Fertilisers Business Development Manager Noel Nyirenda said that the firm is waiting for an international consultant to map the setting up of the factory, as a loan worth $2 million has already been secured.
The plant is said to have a capacity to produce 100, 000 metric tonnes (mt) of fertiliser per year, creating 300 direct jobs at its beginning.
Last month, the Agriculture Committee of Parliament expressed concern over the rapid rise in fertilizer prices, as the committee engaged local fertiliser dealers on the matter. Chairperson of the Committee Sameer Suleiman said they were not convinced that global trends have triggered a sharp rise in fertiliser prices. “There is no way a Malawian will afford fertiliser at K40,000. For example, if you apply two bags of fertiliser to your field you will only be able to harvest 7 bags of maize which doesn’t make sense to go to the field anymore,” Suleiman said.