(MENAFN- Morocco World News) Brecorder.com. Rabat – Morocco's OCP Group and China's Hubei Forbon Group have signed a framework agreement to develop a new generation of fertilizers .
The partnership will enable 'both companies to combine their expertise and know-how to develop a new generation of high added-value fertilizers ,' OCP announced Monday, September 24, in a statement.
OCP Group is one of the leading exporters and producers of phosphate-based fertilizers in the world. The company develops precision agriculture techniques to help farmers improve the quality and yield of their crops.
The new generation of fertilizers will include 'biostimulants, slow/controlled-release fertilizers, sulfur fertilizers, fertilizers with micronutrients, microbial fertilizers, water-soluble fertilizers, etc.,' reads the statement.
Both companies' objective is to implement innovative and custom solutions to meet the market and farmers' needs by offering 'efficient and eco-friendly' fertilizers.
'As a part of our Open Innovation Initiative, we rely on an innovative ecosystem through the expertise of the best leaders in our areas of interest in order to build up co-development partnerships,' said Iliass El Fali, executive vice president of industrial operations at OCP Group.
El Fali added, 'This partnership will allow us to combine OCP and Forbon expertise to develop new products and improve our offer in fertilizers. It is also an opportunity to access the very dynamic ecosystem that the Chinese innovation represents.'
Developing smart agriculture
OCP Group and Forbon Group plan to invest in smart agriculture by using digital technology such as 'new software and precision equipments' to improve fertilizer consumption and water management and 'significantly reduce the industry's ecological footprint,' according to OCP's statement.
Hubei Forbon Group is a fertilizer additives supplier with a global network of 400 fertilizer producers, experts, and technicians.
The Chinese company is listed on China's Shenzhen Stock Exchange and has branches in Asia and Europe.
El Fali stated that 'Forbon is a world leader in coating for fertilizers and new products for smart agriculture.
'Forbon has a strong expertise in smart agriculture, traditional and new generation of fertilizers. We believe in close collaboration between our two companies,' Wang Renzong, Forbon's CEO, said on Monday.
A new joint R & D center
As part of the partnership, both partners are also discussing establishing a joint research and development center in China.
The center will be devoted to innovation and 'will benefit from an academic and industrial ecosystem and a relevant scientific diversity,' said the statement.
The center will also address 'the challenges that OCP Group faces' in fertilization and agriculture and develop 'specific and integrated smart agriculture solutions.'
OCP has numerous international agreements. On September 7, OCP Group signed an MoU with Ghana's Ministry of Food and Agriculture to develop Ghana's fertilizer value chain to provide 'customized fertilizers at affordable prices to farmers.'
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