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Morocco, Pakistan to set up $200m phosphoric acid plant
Morocco-Pakistan, Business, 7/28/2004
The Cherifian office of Phosphate (OCP) and Fauji Fertilizer Company Limited (FFCL) signed Monday a partnership accord to set up a phosphoric acid production plant in Jorf Lasfar (south of Rabat) under a joint venture project with an estimated cost of $200 million, OCP said in a release.
Production in the plant is due to start at the end of 2006 and is expected to cover FFBL needs of phosphoric acid.
The accord is due to be finalized next September. The plant, to have a share capital of $80 million, will be dubbed Pak Maroc Phosphore (PMP).
OCP deem this partnership a natural extension of collaboration between the Cherifian Office and FFCL during the two latest years.
FFCL is the only fertilizer producer in Pakistan.
Previous Stories:
Morocco seeks Pakistani investments in offshore and onshore oil prospecting
(3/6/2004)
Pakistan Holds Talks with Morocco, Ukraine for Joint Ventures in Fertilizers
(7/20/2002)
Pakistani official meets phosphates company ceo
(7/6/2002)
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