Jerusalem: Israel Chemicals Ltd said on 31 July it had formed a joint venture with Zuari Industries to set up and operate a soluble fertiliser production plant in India.
ICL, a maker of fertilisers and specialty chemicals, said in a statement it will distribute water soluble fertilisers throughout India with Zuari and establish a fertiliser plant with an initial capacity of 10,000 tonne per year.
Zuari, a producer and distributor of fertilisers and agricultural products, is a member of Indian conglomerate KK Birla Group.
“The rapid growth of agriculture in India, together with the local market’s increasing use of intensive agricultural methods, represents an exciting opportunity for ICL Fertilisers,” Yossi Zidon, senior vice-president of ICL said in a statement.
In 2006, Zuari bought about 235 thousand tonne of potash from ICL.