King Mohammed VI receives the results of the first investment program of the OCP Group (2023-2027) – En Segundos Panama

The new program foresees a global investment of about 13 billion dollars (130 billion dirhams) in the period 2023-2027, achieving a local integration rate of 70%, supporting 600 Moroccan industrial companies and creating 25,000 direct and indirect jobs.

From the embassy of the Kingdom of Morocco we have received the statement of the Royal Cabinet, which highlighted that His Majesty King Mohammed VI has received the results of the first investment program of the OCP Group (2023-2027), one of the sovereign’s initiatives in the transition towards green energy and a decarbonised economy.

Considering it of interest to the world, we reproduce the written saying:

“His Majesty King Mohammed VI, may God help him, presided over the presentation ceremony of the new green investment program of the OCP Group (2023-2027) on Saturday 3 December 2022 at the Royal Palace of Rabat and the signing of the protocol d agreement between the Government and the OCP Group relating to this programme.

This ceremony is part of the voluntary orientation promoted by His Majesty the King, for several years, on the subject of transition to green energy and a decarbonised economy. It is the extension of the work meeting chaired by the Sovereign on 22 November, dedicated to the development of renewable energies and new perspectives in this field.

At the beginning of the ceremony, the Chairman and Chief Executive Officer of the OCP Group, Mr. Mostafa Terrab, presented to His Majesty the King the results of the Group’s first investment programme, subject to Royal High Guidance in 2012 and which enabled the OCP firmly establish itself in the fertilizer market. By tripling its fertilizer production capacity, the OCP Group is today one of the world’s leading producers and exporters of phosphate fertilizers.

The group relied on the research and development capabilities of the Mohammed VI Polytechnic University (UM6P), in order to seize the opportunities offered by new industrial and digital technologies, and to develop skills on innovative technologies of reasoned fertilization, capable of responding a the challenges of sustainable agriculture and food security.

Subsequently, Mr. Terrab presented the new green investment program of the OCP Group to the Ruler. This program is articulated around increasing fertilizer production capacities while committing to achieve carbon neutrality by 2040, leveraging the unique field of renewable energy, as well as the Kingdom’s progress in this area under the impetus of Her Majesty King Mohammed VI, God help him.

By investing in solar and wind energy, the group plans to power its entire industrial infrastructure with green energy by 2027. This decarbonised energy will fuel new seawater desalination capacities to meet both the Group’s needs and the supply of potable water and irrigation of the areas adjacent to the OCP sites.

This investment will allow the group, the world’s leading importer of ammonia, to free itself from these imports by also investing in the renewable energy sector – green hydrogen – green ammonia, which will allow it to enter the market of fertilizers and green fertilization solutions adapted to the specific needs of different lands and crops.

This ambition will be supported by support programs for industrial SMEs, as well as those in the energy and agricultural sectors, favoring the birth of an innovative national ecosystem and the creation of new job opportunities and professional integration for young people.

The new programme, which will consolidate the global position of the OCP, envisages a global investment of approximately US$13 billion (130 billion dirhams) over the period 2023-2027, the realization of a local integration rate of 70%, the support of 600 Moroccan industrial companies and the creation of 25,000 direct and indirect jobs.

To this end, His Majesty the King presided over the signing of a memorandum of understanding on this investment programme, between the Government and the OCP Group, represented respectively by the Ministers of the Interior, of the Economy and Finance, of Equipment and of Water, Energy Transition and Sustainable Development, investments, convergence and evaluation of public policies, on the one hand, and by the president and general director of the OCP, on the other”.