Fertiliser co-operative Kribhco today announced a joint venture with Moroccan firm OCP to set up a new plant for manufacturing phosphatic fertilisers in Andhra Pradesh with an investment of Rs 1,500 crore.
Kribhco and OCP have also agreed in-principle to jointly set up a phosphoric unit in Morocco that could entail an investment of about Rs 3,000 crore. OCP is the largest phosphate producer in the world and a leading global fertiliser player. “We are entering into a 50:50 joint venture with OCP to set up a NPK fertiliser plant at Krishnapatnam in Andhra Pradesh with an annual capacity of 1.2 million tonnes,” Kribhco Chairman Chandra Pal Singh told reporters here. Minister of State for Chemicals and Fertilisers Mansukhbhai Mandaviya said the JV will strengthen relationship between the two countries and also benefit Indian farmers.