New local Water Soluble Fertilizer production will support rising demand in a major fertilizer-importing market and enhance resilience as geopolitical tensions disrupt global supply routes

ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced the opening of a new specialty fertilizer production facility in Maharashtra, India. The launch comes at a critical time for India, which relies heavily on fertilizer imports and is now facing supply disruptions due to the latest geopolitical instability and the closure of the Strait of Hormuz - a key global shipping corridor. These delays are already affecting fertilizer availability worldwide and could pose long‑term risks to food security if not addressed. This new facility supports the Government of India’s “Make in India” initiative and reflects ICL’s strategy to expand local production in high-growth markets. By manufacturing Water Soluble Fertilizers (WSF) within India, ICL aims to reduce dependence on cross-border supply chains, diversify production routes and ensure more reliable access to essential agricultural inputs.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260318589447/en/

ICL specialty fertilizers plant in India

The plant will produce advanced Water Soluble Fertilizers solutions, that enable precise nutrient delivery and higher agronomic efficiency. According to customs import data and growth trends from previous years, India WSF market has demonstrated a high single-digit CAGR. By expanding access to these solutions, the facility will support Indian farmers in adopting more efficient and sustainable growing practices, helping to increase yields and strengthen long-term food security.

The new facility will span approximately seven acres (28,000 square meters) and will replicate ICL’s advanced production model currently operating in Israel. Designed to deliver the same high-quality specialty fertilizer products currently exported from Israel, the plant will strengthen supply reliability and build a more diversified production base that can better navigate geopolitical constraints while supporting long-term customer demand. ICL has worked closely with partners and customers in India for more than three decades, generating approximately $250 million in annual revenues.

“Establishing this manufacturing plant in India is a strategic step in scaling our specialty fertilizer production platform,” said Nir Ilani, President of the Growing Solutions Division of ICL. “With geopolitical tensions disrupting global trade routes and delaying fertilizer shipments through a key corridor such as the Strait of Hormuz, building local production capacity is essential. This facility enhances India’s supply resilience and ensures farmers have consistent access to high-quality solutions.”

The investment strengthens ICL’s long-term strategy to expand its specialty fertilizers market, deepen customer relationships and respond more effectively to local agronomic needs.

About ICL

ICL Group Ltd. is a global leader in agriculture, food and industrial solutions and uses its unique mineral resources and extensive expertise to address key sustainability challenges related to food security and access to essential minerals. ICL is focused on driving long-term growth through its specialty agriculture and food businesses, while strategically managing its bromine, potash and phosphate mineral resources. ICL’s global professional workforce includes more than 12,000 individuals who are dedicated to expanding its growth engines and efficiently operating – both structurally and economically – while maintaining and optimizing its core operations. The company’s operations are organized under four segments: Industrial Products, Potash, Phosphate Solutions and Growing Solutions. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL), and its 2025 revenues totaled more than $7 billion.

For more information, visit ICL's website at icl-group.com.
To access ICL's CSR report, visit icl-group-sustainability.com.
You can also learn more about ICL on Facebook, LinkedIn, YouTube, X and Instagram.

Forward Looking Statements

This announcement contains statements that constitute forward-looking statements, many of which can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others.

Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding the Company’s intent, belief or current expectations. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: the Company’s intentions to expand access to advanced water‑soluble fertilizers to support more efficient and sustainable farming practices in India; the Company’s ambition to strengthen supply reliability and enhance service to customers across India through local production; the Company’s plans for the new facility to support regional economic development and strengthen India’s agricultural supply chain; the Company’s expectations that the production will support rising demand in a major fertilizer-importing market and enhance resilience as geopolitical tensions disrupt global supply routes; the Company’s intentions to be closer to customers and respond more efficiently to local agronomic needs; expectations regarding high single‑digit CAGR growth of the WSF market in India; ICL’s expectations that the new facility will help increase yields and strengthen long‑term food security; ICL’s expectations that the facility will reach a production capacity of up to 30,000 tons by 2029; expectations that the facility may in the future serve as a hub for exports to additional global markets and integrate into ICL’s global production network; the Company’s belief that establishing local production capacity is an operational necessity given geopolitical tensions and supply‑chain disruptions; expectations that the facility will enhance India’s supply resilience and create new employment opportunities; and ICL’s view of specialty fertilizers as a key growth engine for the Company.

Although ICL believes the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because ICL can give no assurance they will prove to be correct.

Other factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, the state of the Indian market, general economic, market and business conditions, weather conditions, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof. As a result of the foregoing, readers should not place undue reliance on the forward‐looking statements contained in this press release concerning the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the “Risk Factors” section of its Annual Report on Form 20-F filed on March 13, 2025 (reference no. 2025-02-016733), as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time.

Forward-looking statements refer only to the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to publicly release any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260318589447/en/