The project is expected to manufacture a range of fertilizer and industrial products for domestic and international markets.
The move comes as the conflict involving Iran, Israel and the United States has disrupted shipments through the Strait of Hormuz since late February, exposing vulnerabilities for India as the world’s most populous country, the second-largest fertilizer consumer, and a major agricultural producer.
New research says Tanzania should match fertilizer subsidies with stronger investment in irrigation, research and improved seeds to support lasting agricultural growth.
The move gives Moroccan fertilizer exporters short term relief while the U.S. reviews its trade measures.
The new tax system links export duties to market prices while exempting high grade ammonium nitrate.