The construction of Moroccan fertiliser major OCP's USD 230-million plant in Andhra Pradesh, in 50:50 joint venture with Kribhco, is expected to commence in the next few months.
"The fourth fertiliser plant of OCP in JV is coming up in India, and would entail an investment of USD 230 million," Morocco's minister for logistics and transport, Abdelkar Amara said here today after an interactive session with CII members.
Amara is in the city with a high-level business delegation.
"Currently, the project is under engineering study and by June-July, work on the plant should begin," Moroccan Ambassador to India Mohamed Malaki said.
The plant at Krishnapatnam is expected to process up to 1.2 million ton of NPK or Nitrogen, Phosphorus and Potassium fertiliser.
Krishak Bharati Cooperative Ltd (KRIBHCO), a multi-state cooperative society that is co-promoting the venture, would provide indigenous NPK fertilisers to Indian farmers by leveraging its deep knowledge of the market and farmers' requirement.
The NPK grade of fertilisers are considered important for balanced fertilisation of soil and crop nutrition.
The venture is seen as the first step in a broader strategic cooperation between both the companies, which could include Kribhco investment in a phosphoric acid unit in Morocco.
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