Join on WhatsApp
Join on Telegram
Rabat – Morocco’s fertilizer giant will invest an envelope estimated at over MAD 139 billion ($14 billion), covering the period between 2025-2027.
A report on public establishments and enterprises by the Ministry of Economy said the investment is distributed over the period as such: MAD 45 billion ($4.54 billion) in 2025, MAD 52 billion ($5.25 billion) in 2026, and MAD 42.15 billion ($4.25 billion) in 2027.
The group anticipates a revenue of nearly MAD 102.65 billion ($10.37 billion) this year. The number would represent an increase of 12% compared to 2023, a net income rise of 15% to MAD 16.5 billion ($1.66 billion).
It also means an investment achievement improvement of 64% to MAD 44.8 billion ($4.52 billion).
The group revenue increased by 15% to approximately MAD 43.25 billion ($4.37 billion) by the end of June, while investment spending surged by 64% to MAD 19.75 billion ($1.99 billion).
The report further stressed OCP’s latest initiatives, including the two new desalination plants in Jorf Lasfar and Benguerir, as part of the group’s green investment program.
The projects aims to achieve self-sufficiency in non-conventional water at Jorf Lasfar and initiating the supply of drinking water to the cities of Safi and El Jadida.
Last year also witnessed the launch of a third issuance of perpetual subordinated bonds of MAD 5 billion ($505,235), as well as IFC’s €100 loan for the construction of four solar power plants.
OCP reported positive indicators this past September, with the group revealing it reached a revenue of $4.32 billion as of June this year.
The revenue jumped from $3.8 billion recorded in the same period last year to $4.35.
OCP attributed the development to strong demand in importing regions like Europe and Africa as well as sustained demand for solid acid in Europe and an increasing interest in India.
