Koch Ag & Energy Solutions (Koch) and OCP have signed an agreement under which a Koch affiliate will acquire a 50% interest in Jorf Fertilizers Company III (JFC III) from OCP, the world’s largest phosphate mining and leading global fertilizer group. When the transaction is closed, it will establish a 50/50 joint enterprise.
JFC III is the owner and operator of an integrated phosphate fertilizer manufacturing facility in Jorf Lasfar (Morocco), with the potential to produce up to 1 million metric tons of phosphate-based fertilisers annually. JFC III is part of the Jorf Fertilizer Complex which is the largest Phosphate fertilizer manufacturing platform in the world.
JFC III’s production will be marketed by OCP and Koch Fertilizer, LLC. The companies will also collaborate on the supply ammonia, sulfur and fertilizers to OCP.
“The venture builds on Koch’s long-standing relationship with OCP and a shared vision to expand phosphate offerings globally,” said Scott McGinn, Koch Fertilizer executive vice president. “We are excited to grow Koch Fertilizer from a predominately nitrogen producer and distributor by offering a larger suite of phosphate products to our customers. We look forward to collaborating with OCP and leveraging the unique capabilities of both companies.”
OCP, headquartered in Casablanca (Morocco), holds 31% of the global phosphate product market and employs 23,000 people in Morooco as well.
“Our collaboration with Koch is now entering a new phase after more than a decade of commercial relationship,” said Soufiyane El Kassi, Chief Growth Officer of OCP. “Koch is a key strategic partner with a shared vision on how to best serve farmers and agriculture. Through this transaction, we are happy to welcome another leading industrial player such as Koch to Morocco.”
The transaction is being processed pending satisfaction of all customary closing conditions.
Source: Successful Farming
