Morocco: Office Chérifien des Phosphates (OCP Group) - Phase II

Description

The project relates to the expansion of OCP Group’s industrial facilities at Jorf Lasfar, a deep-water commercial port on Morocco’s Atlantic coast. In 2014, an industrial unit was launched including an integrated facility of one million tons capacity of fertilizer specifically dedicated to the African market. OCP Group is a leading global fertilizer and the largest global producer of phosphate rock and phosphoric acid that has been in operation for a century.

The Bank’s Investment

Following the Bank’s initial support to Morocco’s phosphate and fertilizer production in 2011, the African Development Bank approved a second loan of USD 200milion in 2018 to support the expansion of the Jorf Lasfar Phosphate Hub. The impact of these operations is amongst others to improve access to more affordable fertilizers for farmers across the continent, creating thousands of jobs and increasing government revenues. With plans to expand development across Africa, the Bank is positioned to support the OCP Group in championing its cause to develop regional markets and value chains.

Economic and social benefits

The program generated around 20,980 direct jobs by the end of 2016, and the Moroccan Government received dividends net of taxes of MAD 1.7 billion.

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