Fertilizer firm to invest in Morroco

November 29 2011 11:20:59

Fertilizer firm to invest in Morroco

ISTANBUL- Hürriyet Daily News

Toros Tarım, the phosphate fertilizer-producing subsidiary of Tekfen Holding, has made a deal with Morocco’s state-run phospate monopoly OCP to establish a joint-venture company in the North African country.

“Toros Tarım agreed to establish a joint-venture with OCP to sell fertilizer to new markets,” said the company in a filing to Istanbul Stock Exchange (İMKB).

Toros Tarım will have an almost 30 percent share in the new firm.

The Moroccan company announced Nov. 25 it started to work on a new fertilizer plant as it sought to strengthen its presence in Africa’s underproductive agriculture sector, Reuters reported

Toros Tarım, is one of the four big investments of Tekfen

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