Jan. 24, 2020
The Moroccan state-controlled company OCP, the largest producer of phosphate fertilizers in the world, will set up a regional centre in Romania, under a partnership with the Al Dahra group from the United Arab Emirates, which operates the largest farms in the country through local company Agricost Brăila.
OCP and Al Dahra will set up a joint venture in Romania, to be named SEEFCO (South East European Fertilizer Company), local Profit.ro reported. The joint-venture will have a capital of USD 5 million and will import, store and distribute chemical fertilizers, both in Romania and other markets in the region.
Founded in 1920 in Casablanca, OCP (the former Office Chérifien des Phosphates) has nearly 21,000 employees and about 30 subsidiaries, in Africa, Europe, Asia and the two Americas. OCP is a world leader in the phosphate-based chemical fertilizer segment, with a production of nearly 9 million tonnes and revenues of USD 5.9 bln in 2018.
Al Dahra is headquartered in the United Arab Emirates and is the leading Middle East grain trader with annual turnover of USD 1 bln. In 2018, the Arab group acquired Agricost Brăila, the largest agricultural company in Romania that operates under a concession contract the land in Insula Mare a Brailei on the Danube.