New Delhi [India]/Rabat [Morocco], January 23 (ANI/PRNewswire): The objective of this partnership is to carry out joint Research & Development initiatives, to jointly promote innovative fertilization solutions, and to offer tailor-made fertilizers that meet the specific needs of Indian farmers, in close collaboration with the Indian agricultural ecosystem (public sector, agronomic institutes, agricultural federations, farmers, etc.)
Within this framework, OCP Group has signed Memoranda of Understanding (MoU's) with India's largest public and private sector fertilizer producers, paving the way for OCP to supply India with up to 1.7 million metric tons (MT) of phosphate fertilizers for the agricultural season over the next twelve months.
These memoranda were signed between OCP Group executives and Indian fertilizer manufacturers, in the presence of His Excellency Dr Mansukh Mandaviya, Minister of Health, Chemicals and Fertilizers in India, His Excellency Shri Rajesh Vaishnaw, Ambassador of India to the Kingdom of Morocco and Mostafa Terrab, Chairman and CEO of OCP Group.
The agreements will provide for up to 700,000 MT of Triple Super Phosphate (TSP), a phosphate-based fertilizer that has the highest phosphate content found in nitrogen-free granular fertilizers and can be tailored to meet the specific needs of plants and soils in India. Customized fertilizers are known to be better for soil health, thus reducing waste. The MOUs also call for the delivery of 1,000,000 tons of diammonium phosphate (DAP) to Indian farmers.
Commenting on the occasion, Soufiyane El Kassi, Chairman and CEO of OCP Nutricrops, the group's subsidiary dedicated to soil health and plant fertilization solutions said: "We are pleased with India's interest in our customized solution (TSP) that significantly contributes to increasing yields, improving farmers' incomes and accelerating the implementation of sustainable agricultural practices"
OCP Group plays an important role in feeding a growing global population by providing essential elements for soil fertility and plant growth. With a century of experience and revenues reaching USD 9.4 billion in 2021, OCP Group is a leader in plant nutrition and the world's largest producer of phosphate-based fertilizers. Headquartered in Morocco and present on five continents, with over 18 000 employees, OCP Group works in close partnership with more than 350 customers across the world.
The group recently launched a new Green Investment Strategy, devoted to raising fertilizer production and investing in renewable energy. The strategy provides for a global investment of about USD 13 billion over the 2023-2027 period, which will enable the group to use 100 per cent renewable energy by 2027 and achieve full carbon neutrality by 2040. The strategy also aims to reach a water desalination capacity of 560 million m3 in 2026 and increase the production of green fertilizers.
The group is firmly convinced that leadership and profitability are necessarily synonymous with social responsibility and sustainable development.
Its strategic vision is rooted in the meeting of these two dimensions. Learn more: www.ocpgroup.ma
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