Weeks after signing a deal to supply one million tonnes of potash to an Indian fertilizer company -- has that said it will set up two soluble fertilizer manufacturing plants in India.
"The decision to open two more plants stems from the success of the existing plant, the current shift in India's agriculture to modern and intensive methods and growing demand for soluble and complex fertilizers resulting from this shift," the company said in a statement.
ICL will set up the plants in collaboration with its local Indian partner, Zuari Industries.
Zuari Industries produces and distributes fertilizers and agricultural products throughout India. It partners with ICL in the speciality fertiliser initiative operating in India under the name Zuari Rotem Speciality Fertilizers.
Since March 2010, Zuari has been operating a soluble fertiliser plant with a production capacity of 32,000 tonnes a year.
"The decision to expand the cooperation with Zuari Industries is a further step in the implementation of our expansion strategy in speciality fertilisers abroad and in general - mainly in emerging markets where we see considerable growth potential", said Yossi Zidon, head of ICL Specialty Fertilizers.
"We believe that our leadership in delayed release and controlled release fertilisers alongside Zuari's distribution and service array will allow us to respond to the special needs of India's farmers through the new plants and to obtain a competitive edge," Zidon said.
Earlier this month ICL has signed a deal with an Indian company to supply one million tonnes of potash at $490 per tonne, a price about $120 per tonne more than the last year.
"The decision to open two more plants stems from the success of the existing plant, the current shift in India's agriculture to modern and intensive methods and growing demand for soluble and complex fertilizers resulting from this shift," the company said in a statement.
ICL will set up the plants in collaboration with its local Indian partner, Zuari Industries.
Zuari Industries produces and distributes fertilizers and agricultural products throughout India. It partners with ICL in the speciality fertiliser initiative operating in India under the name Zuari Rotem Speciality Fertilizers.
Since March 2010, Zuari has been operating a soluble fertiliser plant with a production capacity of 32,000 tonnes a year.
"The decision to expand the cooperation with Zuari Industries is a further step in the implementation of our expansion strategy in speciality fertilisers abroad and in general - mainly in emerging markets where we see considerable growth potential", said Yossi Zidon, head of ICL Specialty Fertilizers.
"We believe that our leadership in delayed release and controlled release fertilisers alongside Zuari's distribution and service array will allow us to respond to the special needs of India's farmers through the new plants and to obtain a competitive edge," Zidon said.
Earlier this month ICL has signed a deal with an Indian company to supply one million tonnes of potash at $490 per tonne, a price about $120 per tonne more than the last year.
Source : Ahmedabad Mirror
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