On October 24, Sinochem Group and Morocco OCP signed a five-year (2017-2021) MOU. According to the MoU, Sinochem Group will be the exclusive agent for OCP’s sale of Phosphate Rock and DAP (Diammonium Phosphate) in China (excluding channels specifically designated by OCP). The total volume amounts to approximately 5 million tons, with price pending on market quotation. This collaboration will be executed by Sinofert Holdings Ltd.
Mr. Qin Hengde, President of Agriculture Business, Sinochem Group stated that, Morocco’s Phosphate Rock and DAP are of high quality, which would be tremendously conducive to China’s agricultural production, food security and environmental protection. The signing of the MoU this time was also a specific representation of deepening China-Africa cooperation under the “Belt and Road” Initiative.