Israel Chemicals (ICL) said this week that it is considering constructing a potassium nitrate plant to increase its production of soluble specialty fertilizers and food-grade phosphoric acid.

Although detailed plans have not been released at this stage, ICL said that the scale of the proposed plant would be designed to secure the company's internal needs, as well as to supply international markets.

ICL has not yet settled on a location for the new plant. It has launched a project to determine the optimal location based on factors such as raw materials supply (including potash, phosphate rock and ammonia), logistical considerations, tax and investment encouragement policies and proximity to customers.

The company currently produces potash in Israel, England and Spain, and it mines phosphate rock in Israel.

ICL Fertilizers president and CEO Nissim Adar said: "We see a number of substantial advantages arising from the construction of a potassium nitrate plant which would enable ICL to better convert our raw materials into specialized, downstream products for both the specialty fertilizers and food additives markets, thereby enhancing our position as a leading company in these areas."

This additional manufacturing capability would strengthen ICL's product portfolios in the areas of soluble specialty fertilizers to support agrochemical needs and solidify its role as a global leader in integrated solutions for food texture and stability, Adar added.