Rabat, Jan. 29 -- Morocco's OCP and Spain's Fertinagro Biotech company recently announced they created a joint venture company to produce enhanced fertilizer.

The new company will produce "granular high analysis [nitrogen, phosphorus, and potassium] NPK as well as fertilizers enhanced with urease inhibitors, bio-stimulants and trace elements (micronutrients), to address the international market," OCP said in a statement January 24.

The new venture comes two months after one of OCP's subsidiaries acquired 20 percent of the shares in Fertinagro Biotech in October last year.

OCP Group, one of the leading exporters and producers of phosphate-based fertilizers in the world, announced on October 23 that it obtained all required regulatory ap...