OCP and Hubei Forbon Form Fertilizer JV
Morocco’s OCP, the world’s leading exporter of phosphate, has signed an agreement with Chinese fertilizer additives supplier Hubei Forbon to develop a new generation of high added-value eco-friendly fertilizers.
Under the agreement, the companies will collaborate in developing a range of products, including biostimulants, slow/controlled-release fertilizers, sulfur fertilizers, fertilizers with micronutrients, microbial fertilizers and water-soluble fertilizers. OCP said one of the jv’s targets is to implement innovative solutions that are efficient and eco-friendly and meet the needs of farmers and the market.
The partners are seeking to use digitalization technology, such as new software and precision equipment, to make it possible to optimize fertilizer consumption to apply the right nutrients at the right rate, at the right time and in the right place, and also to improve water management and significantly reduce the industry’s ecological footprint.
As part of the deal, OCP and Hubei Forbon are also discussing the creation of a joint R&D center in China that will especially look at developing specific and integrated smart agriculture solutions to address the industry’s challenges.
OCP, which is 94% owned by the Moroccan government, opened an office in Beijing in July 2016 to better meet the needs of the Chinese market and boost its access to Asia.