US Koch completes acquisition of 50% stake in JFC III from OCP
HOUSTON (ICIS)–US Koch Ag & Energy Solutions (KAES) announced it has successfully completed the acquisition of a 50% interest in Jorf Fertilizers Company III (JFC III) from fertilizer producer OCP thereby establishing a 50/50 joint venture between the two companies.
JFC III owns and operates an industrial facility producing up to 1.1m tonnes/year of phosphate-based fertilizers.
Koch said that through its advantaged location within the Jorf Fertilizer Complex, the world’s largest phosphate fertilizer production platform, JFC III benefits from a unique relationship with OCP’s broader industrial operations at the complex.
“Our long-term partnership with Koch is reaching a new stage through the establishment of our Moroccan-based joint venture, which confirms our common goal to provide farmers with high quality and reliable Moroccan phosphate fertilizers,” said Mostafa Terrab, OCP Group Chairman and CEO.
Koch said the acquisition marks Koch’s first substantial investment on the African continent.
“KAES and OCP have a long-standing relationship, and we are excited to continue growing our relationship as we work together to secure JFC III’s long-term success,” said Mark Luetters, Koch Ag & Energy Solutions president.