OCP and Kribhco are entering into a 50:50 joint venture to develop a large-scale Greenfield NPK fertilizer plant in Krishnapatnam, Andhra Pradesh, India.
The fertilizer plant will require an initial investment of approximately $230 million and will have an annual production capacity of 1.2 MT of NPK fertilizers. Furthermore, the project also includes the development of logistical infrastructure in the region.
Chairman and CEO Mostafa Terrab, OCP, said, “OCP has always been, and remains fully committed to contribute to India’s agricultural development. We believe large scale local investments designed to respond to farmer’s specific needs is the key ingredient to successful agricultural ecosystem development. As one of the major cooperatives in India, Kribhco is an excellent partner to develop a farmer-oriented agricultural input joint-venture. This partnership is designed to be truly a win-win project for all the stakeholders involved but foremost for India’s agriculture and particularly for Indian farmers.”