Classified under HS code 310559, the new formulation aims to balance agronomic performance with cost efficiency amid volatile global fertilizer markets.
Following the commissioning, United Capital Fertilizer confirmed that it had formalized a US$1.4 billion financing deal to support the second phase of development
On the industrial front, the OCP Group continued to expand its fertilizer production capacity with the completion of new projects.
The agreement was signed in the presence of Prime Minister Abiy Ahmed and the Nigerian business tycoon, Aliko Mohammad Dangote.
This is part of the Indian company’s plan to increase its fertilizer market share from 12% to 25% by 2026.