Morocco Raises Billions for Fertilizers, Counting on Sulfur From Kazakhstan
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Kazakhstan has entered the raw materials supply chain for Moroccan fertilizer producer OCP, which has raised $1.5 billion amid a resource shortage, Orda.kz reports, citing Reuters.
The Moroccan company placed hybrid bonds on the international market. Such securities combine features of bonds and shares, but in practice remain a debt instrument.
The funds raised will be used for the production of phosphate fertilizers and the purchase of raw materials. Sulfur will be a key component in those purchases.
Amid supply disruptions and geopolitical tensions, sulfur prices rose by about 35% in April.
To reduce risks, the company is expanding the geography of its procurement. Kazakhstan, Canada, European countries, as well as countries in the Gulf of Mexico and Red Sea regions, were named among the suppliers.
Original author: Alexander Zhdanov
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