Kolkata — The joint venture fertiliser project of Krishak Bharati Cooperative Limited (Kribhco) and Morocco's OCP is set to launch construction work at the Indian state of Andhra Pradesh for an amount of 230 million dirhams.
The two entities had entered into a 50:50 joint venture to develop a large-scale greenfield NPK (nitrogen, phosphorus and potassium) fertiliser plant with an annual production capacity of 1.2 million tons of NPK fertiliser.
"We have three joint ventures and the fourth one is coming up in India. The fourth joint venture would entail an investment of $230 million," Morocco's Transport and Logistics Minister Abdelkader Amara, told reporters after interacting with CII members.
According to Amara, who is leading a Moroccan delegation on a working visit on Dec. 14-21 to India, the project would strengthen the economic relations between India and the North African nation.
"Currently, the project is under engineering study and by June-July (in 2018) work on the plant should begin," said Morocco's Ambassador to India Mohamed Maliki.