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Energy and chemicals firm OCI Global has agreed to sell 50% of its nitrogen business, Nitrogen Intermediate Holding, to European nitrogen products manufacturer Agrofert for €55m ($64m).
Nitrogen Intermediate is the sole shareholder of OCI Nitrogen (OCIN), which produces nitrogen-based products used in agriculture and industrial applications.
The deal is expected to close in the second half of 2027, subject to regulatory approvals, and includes an option for either OCI or Agrofert to buy or sell the remaining 50% stake after two years for a pre-determined price.
Once the initial transaction has closed, Agrofert will operate and manage OCIN, and OCI Global will retain its economic holding.
Hassan Badrawi, CEO of OCI, said, “Placing the business with a strategic owner with a strong industrial footprint in European nitrogen markets supports long-term continuity for the asset.”
OCIN produces nitrogen-based fertilisers and chemicals from its headquarters at the Chemelot Campus in Geleen, Netherlands.
The company generated €43m ($50m) in Q1 2026, supported by strong nitrogen pricing conditions amid ongoing supply chain disruptions.
In November 2025, OCI Global agreed to sell its to Agrofert for €290m ($334m).
The sale of OCI Ammonia Holding includes the OCI Terminal Europoort (OTE), a large import and storage terminal in Rotterdam, the Netherlands, and OCI Ammonia Distribution (OAD), which delivers ammonia to external European customers.
In the OCI Global Q1 2026 trading update, Badrawi said, “During the first quarter, OCI made continued progress in executing its strategic priorities, including the completion of the sale of OCI Ammonia Holding to Agrofert.”
The Middle East crisis has reportedly removed around of nitrogen fertiliser production from global markets.
