African Potash Ltd (LON:AFPO) has furthered its aims to expand its fertiliser business by striking a new joint venture deal with SG Inc following a memorandum of understanding inked in August with the government of the Republic of Congo.
The two companies are set to develop and commercialise resources in the Republic of Congo to produce fertiliser, with each party owning 50% of the joint venture.
SG INC has an excellent track record of building resource-based and other businesses in the Republic of Congo, the firm said.
"The combination of proven key 'in situ' fertiliser components, along with existing and planned infrastructure in the Republic of Congo is significant," said Chris Cleverly, African Potash's executive chairman.
"The proximity of the port facilities at Pointe Noire ultimately offers access to international markets," he added.