Morocco has proposed the construction of a fertilizer plant in Guatemalan territory, with the aim of opening the door to distributing fertilizers generated in the Moroccan facility to Latin America, according to Moroccan World News, citing Guatemala President Alejandro Giammattei.
Speaking at the third ordinary meeting of the National Council for Urban and Rural Development, held on June 22, Giammattei said Guatemala and Morocco are approaching an agreement for the manufacturing of low-cost fertilizers on Guatemalan territory, and that a deal will be signed shortly with Morocco’s King Mohammed VI.
The Guatemalan president confirmed that output from the new facility would be to supply Latin America, and would be much cheaper with local production and no maritime freight costs.
According to the report, citing Giammattei, the Guatemalan government will not earn “a single penny” from the planned fertilizer facility, but rather that the fertilizers will have a more attractive price so that farmers can have better harvests.