Morocco’s state-owned phosphate giant, OCP Group, has announced plans to invest more than $14 billion over the next two years, capitalizing on robust global demand and strong domestic political support.
The investment, equivalent to 139 billion dirhams, is set to further solidify OCP’s position as a world leader in the production of phosphate and fertilizers, with a focus on key markets in Europe and Asia.
According to a report from Morocco’s Ministry of Economy, the planned investments will be rolled out progressively.
In 2025, OCP intends to allocate 45 billion dirhams ($4.54 billion), followed by 52 billion dirhams ($5.25 billion) in 2026, and 42.15 billion dirhams ($4.25 billion) in 2027.
The group forecasts a significant financial performance for the current year, with projected revenues of around 102.65 billion dirhams ($10.37 billion)—a 12% increase compared to 2023.
Alongside this, net profit is expected to rise by 15%, reaching 16.5 billion dirhams ($1.66 billion).
Additionally, the group’s investment performance is anticipated to improve by 64%, with total investments expected to hit 44.8 billion dirhams ($4.52 billion).
By mid-2024, OCP had already recorded a 15% increase in revenue, bringing in approximately 43.25 billion dirhams ($4.37 billion).
During the same period, its capital expenditure surged by 64%, reaching 19.75 billion dirhams ($1.99 billion), highlighting the group’s aggressive growth strategy.
OCP’s recent projects include the construction of two new desalination plants in Jorf Lasfar and Benguerir, part of its green investment program.
These facilities will ensure a sustainable supply of non-conventional water for OCP’s operations in Jorf Lasfar, while also providing potable water to nearby cities such as Safi and El Jadida.
The group has also made significant strides in renewable energy.
Last year, OCP launched a third issuance of perpetual subordinated bonds worth 5 billion dirhams ($505 million) and secured a €100 million loan from the International Finance Corporation (IFC) to build four solar power plants.
In September 2024, OCP reported impressive half-year results, with revenue reaching $4.32 billion by June, up from $3.8 billion during the same period the previous year.
This growth has been driven by strong demand from Europe and Africa, alongside a surge in interest from India for solid acid products.
With its ambitious investment plans and solid financial performance, OCP is positioning itself to meet rising global demand, ensuring its continued leadership in the phosphate and fertilizer markets.
