NEW DELHI: OCP and Kribhco are pleased to announce that they are entering into a 50:50 joint venture to develop a large-scale greenfield NPK fertiliser plant in Krishnapatnam, Andhra Pradesh, India.
This Fertiliser plant will require an initial investment of approximately $230M and will have an annual production capacity of 1.2 MT of NPK fertilisers.
Furthermore, the project also includes the development of logistical infrastructure in the region. In the spirit of Hon’ble Prime Minister of India’s call for “Make in India,” the JV shall provide quality indigenous NPK fertilisers to Indian farmers by leveraging on Kribhco’s deep knowledge of market and farmers requirement, as well as OCP’s world-class industrial capabilities and expertise.
Fertilisers are one of 25 core sectors identified for “Make in India” campaign by Govt. of India.
Commenting on the announcement, OCP’s Chairman and CEO Mostafa Terrab 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 farmers’ 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.”
Kribhco Chairman, Dr. Chandra Pal Singh said, “Proposed JV is a unique example of global cooperation between two leading organisations joining hands for making available phosphate-based fertilizer products to Indian farmers by channelising their respective strengths. Farmers of the country shall benefit with continued supply of various NPK grade products based on best quality phosphate in the world.”
