Morocco’s OCP seals R§D joint venture with China’s Hubei Forbon Technology
Morocco’s phosphates and fertilizers producer OCP and China’s Hubei Forbon Technology signed a research and development Joint Venture to develop a new generation of fertilizers and smart agriculture.
Hubei Forbon Technology Co.,Ltd. (Forbon) is engaged in the research, development, manufacture and sale of fertilizer additives and an innovative company in digital agriculture.
The JV will be located in the East Lake New Technology Development Zone in Wuhan (China) granting it access to the Chinese innovation ecosystem, considered today as one of the most dynamic in terms of R&D in agriculture, OCP said
“Through this JV, OCP and Forbon aim at establishing a global partnership to develop new generations of fertilizer and digital solutions for agriculture, leveraging on OCP’s and Forbon’s innovation capabilities and to benefit from the great opportunities of the Chinese ecosystem for smart agriculture,” the OCP said in a statement.
This deal will profit from the dynamic ecosystem of innovation of the Biolake Park in Optic Valley to explore sustainable agricultural solutions by providing farmers with customized solutions, best practices and digital services, it added.
OCP plays an important role in feeding a growing global population, by providing essential elements for soil fertility and plant growth. With a century of experience and revenues reaching $5.62 billion in 2019, OCP is a leader in plant nutrition and the world’s first producer of phosphate-based fertilizers.