Rabat: Morocco’s state-owned Office Cherifien de Phosphate (OCP) and the Indian firm KRIBHCO have announced the construction of a new $230 million fertilizer plant in Andhra Pradesh, the media reported on Saturday.

The joint venture will be located in the city of Krishnapatnam and will be able to process up to 1.2 million tons of NPK — Nitrogen, Phosphorus and Potassium — fertilizer, Xinhua news agency reported.

(Also Read: Cuba, US sign cooperation agreement on cancer research)

“OCP has always been, and remains fully committed to contributing to India’s agricultural development,” OCP Chairman Mostafa Terrab said.

“This partnership is designed to be truly a win-win project for all the stakeholders involved but foremost for the country’s agriculture and particularly for Indian farmers,” he said.