Serbian agribusiness company Elixir Group reported that it has signed a strategic cooperation agreement with Germany’s K+S Group to build a €35 million (approximately $37.3 million) plant for crystalline water-soluble MAP for fertilizer use.
The new plant will be built in Prahovo, in eastern Serbia, in Elixir’s existing industrial complex Elixir Prahovo. The plant will have a production capacity of 50,000 mt/y, Elixir said in a Nov. 2 statement.
Engineering work on the project has started and construction is expected to begin in spring 2024. Production is planned to start in early 2026, and Elixir said a supply of phosphoric acid has already been secured.
Under the agreement, Elixir will be responsible for the construction of the new plant, including all related infrastructure and storage facilities, while K+S will distribute the MAP through its global network, with a focus on markets in Europe and India.
Elixir Group comprises five companies and is a leading regional producer of chemicals and mineral fertilizers, according to the company’s website.