Koch Ag & Energy Solutions (KAES), has announced its successful completion of acquisition of Jorf Fertilizer Company III (JCF III), owned by OCP Group, Morocco’s phosphates mining and fertilizer giant. The American provider of value-added agriculture and energy solutions sealed the transaction deal with OCP, establishing JFC III as a 50-50 joint-venture between the two companies.
Commenting on the deal, Mostafa Terrab, CEO of OCP said, “Our long-term partnership with Koch is reaching a new stage through the establishment of our Moroccan-based Joint-Venture, which confirms our common goal to provide farmers with high quality and reliable Moroccan phosphate fertilizers.”
Mark Luetters, President of Koch Ag & Energy Solutions, echoed Terrab’s statement, adding that the new venture will further grow the relationship between the two partners “as [they] work together to secure JFC III’s long-term success.” Beyond reinforcing the OCP-Korch partnership, the new JFC III venture deal opens new doors for the American giant to establish and reinforce its presence in Africa.
Substantial investment
“The closing of this acquisition marks Koch’s first substantial investment on the African continent. We are excited to add another nutrient to the KAES portfolio in collaboration with a world-class partner,” said Brad Razook, Executive VP of Koch Industries.
JCF III has an annual production capacity of 1.1 million metric tonnes of phosphate-based fertilizers, and it is strategically located within the world’s largest phosphate fertilizer production platform, known as the Jorf Fertilizer Complex.
The new deal, is set to supply the fertilizer complex with American ammonia amid a global shortage of ammonia due to the ongoing war in Ukraine. It will thus advance OCP’s plans to increase the production of fertilizers to meet the rising demand, as fertilizers are a critical component of African food security.
, has announced its successful completion of acquisition of Jorf Fertilizer Company III (JCF III), owned by OCP Group, Morocco’s phosphates mining and fertilizer giant.){kind=link}