OCP Group to Establish New Chemicals Company ‘OCP Nutricrops’

Morocco’s phosphate and fertilizer giant OCP Group has obtained the green light from the government to create a new company with a capital of MAD 13.8 billion ($1.3 billion), assembling a number of its subsidiaries engaged in chemical activities.

Rabat – Morocco’s phosphate and fertilizer giant OCP Group has obtained the green light from the government to create a new company with a capital of MAD 13.8 billion ($1.3 billion), assembling a number of its subsidiaries engaged in chemical activities.

Named “OCP Nutricrops,” the new company aims to accelerate the implementation of the OCP Group’s strategy in the field of soil and plant fertilization solutions.

The main activity of the new company will be the manufacture of phosphoric acid, monoammonium phosphate, and chemicals of all kinds, including by phosphate processing, says Decree No. 2.22.407, published in the Official Bulletin on July 4.

OCP Nutricrops will merge three companies that are owned by OCP Group, namely Jorf Fertilizers Company I, Jorf Fertilizers Company II, and Jorf Fertilizers Company IV.

It will also assemble the Jorf Fertilizers Company III and the Jorf Fertilizers Company V, which are 50% and 60% respectively owned by OCP.

The process of merging these companies will enable the creation of a leading company in the fertilizer sector as well as customized fertilizer solutions, with more flexibility and options in terms of financing, especially in terms of opening capital.

Initially, the project was approved by OCP’s Board of Directors at a meeting in March 2021.

The company’s average turnover is expected to reach an approximate MAD 30.6 billion ($3 billion) between 2022 and 2025.

Amid a global shortage in fertilizers, which was further deepened after the Ukrainian war, the OCP Group unveiled plans to establish a fertilizer plant in Guatemala with the aim of opening the door to distributing Moroccan-made fertilizers generated in Latin America.

The group has also announced the establishment of a phosphate fertilizer manufacturing facility in Brazil, which is set to manufacture phosphate products from phosphate rock imported from Morocco.