Through a joint venture agreement between Morocco and the UAE, the Southeast European Fertilizer Company (Seefco) has launched the first fertilizer products in Romania in partnership with Morocco’s largest fertilizer company, OCP, and UAE’s agribusiness giant, Al Dahra.
Al Dahra is an agri-food conglomerate present in more than 20 countries. The Emirati company has increased its presence in Romania in recent years by acquiring in 2018 Agricost, one of the leading agricultural companies in Romania, according to the Moroccan news outlet, Le Desk.
The joint venture with OCP will make Moroccan fertilizers more readily available to Romania’s agriculture industry.
Morocco has approved OCP’s plans to launch a Romanian entity in cooperation with Al Dahra in 2020.
The agreement provides that OCP Group will hold 50% of company shares, while Al Dahra will own the remaining half.
The agreement also seeks to enable OCP to use Romania as a hub to expand its operations in Central and Eastern Europe, as part of the company’s vision to expand activities in the southeastern European country.
SEEFCO was founded with a $5 million capital divided between the Moroccan and UAE partners.
In a discussion held at the end of 2018, OCP’s vision for expanding in Romania was outlined as part of the firm’s approach to expanding both internationally and regionally.
In order to maintain the group’s leadership in the global fertilizer industry, the Moroccan company concluded several agreements with regional partners.
The OCP Group has strengthened its international presence, especially in Africa. In recent years, the group has increased its commitment to support sustainable agriculture worldwide by working with local governments.
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