ADNOC has announced a strategic partnership with OCI, which will combine ADNOC's fertiliser business, ADNOC Fertilizers, into OCI’s Middle East and North Africa (MENA) nitrogen fertiliser platform to form a new joint venture. OCI is a global producer and distributor of natural gas-based fertilisers and industrial chemicals, headquartered in the Netherlands. The joint venture will become the largest export-focused nitrogen fertiliser platform globally and the largest producer in the MENA region with a production capacity of five million tonnes of urea and 1.5 million tonnes of sellable ammonia. Annual revenue for the combined entity is $1.74bn, based on 2018 pro forma figures.
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