NSIA, OCP to develop US$1.4bn Ammonia and Phosphate plant

NIGERIA – The Nigeria Sovereign Investment Authority (NSIA) has signed an agreement with Office Chérifien des Phosphates (OCP) of Morocco, for the development of a US$1.4 billion plant to produce Ammonia and Diammonium Phosphate, under its Gas Industrialization Strategy, reports Vanguard. According to the NSIA, the Multipurpose Industrial Platform Project is a backward integration initiative which builds on the successes of the Presidential Fertilizer Initiative (PFI) and other sovereign bilateral initiatives between Nigeria and Morocco. The project is structured to commercialize Nigeria’s vast natural gas resources and satisfy Morocco’s demand…

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