OCP and Kribhco to Build NPK Fertilizer Plant in India

India: OCP, a phosphate raw material and fertilizers manufacturer based in Casablanca, Morocco and Krishak Bharati Cooperative (Kribhco), based in Noida, India have signed a 50-50 to set-up a large-scale greenfield NPK fertilizer plant at Krishnapatnam, Andra Pradesh State, India. The fertilizer plant would require an initial investment of about USD230 million and is expected to have an annual production capacity of 1.2 million tons of NPK fertilizers per annum. Additionally, the project would include the development of logistical infrastructure in the region

TechSci Research depicts that this joint venture agreement would cater to the increasing demand for quality indigenous NPK fertilizers to Indian farmers. In addition, the new plant is expected to strengthen the phosphate based fertilizer market in India. Moreover, majority of Morocco’s phosphoric acid (key raw material for phosphate fertilizers) being exported to India, would boost the phosphoric acid import for new fertilizer plant in India.

According to TechSci Research Report “India Phosphoric Acid Market By Type, By Application, Competition Market Forecast & Opportunities, 2011-2021”, the country’s phosphoric acid market is projected to grow at a CAGR of more than 7% during 2016 - 2021. Fertilizer grade phosphoric acid is primarily used in manufacturing phosphate chemicals, which are used in the production of phosphatic fertilizers such as DAP (diammonium phosphate), MAP (monoammonium phosphate), TSP (triple superphosphate), SSP (single superphosphate), etc. Fertilizers grade dominates India phosphoric acid market, with the segment accounting for a share of more than 90% in 2015.