India’s Zuari Agro Chemicals Ltd. reports that it has signed a Memorandum of Understanding with Morocco’s OCP SA in which OCP will make a strategic investment in Zuari’s wholly-owned Zuari FarmHub Ltd. (ZFHL). The terms and conditions of the proposed strategic investment by OCP in ZHFL, whether primary and/or secondary, will be discussed and finalized over the next few months between Zuari and OCP.
ZFHL will be taking over Zuari’s existing Retail, Specialty Nutrients, Crop Care, Seeds activities, as well as the manufacturing operations of Baramati Specialty Nutrients plant, and will also be spearheading the company’s plans to set up Hubs across the country.