Moroccan King Chairs Meet On Signing Of Protocol Agreement Between The Govt And OCP Group

Moroccan King Chairs Meet On Signing Of Protocol Agreement Between The Govt And OCP Group

Rabat, Dec 4 (TNA) Moroccan King Mohammed VI on Saturday chaired at the Royal Palace in Rabat, the presentation ceremony of the new green investment program of the OCP Group (2023-2027) and the signing of the relevant protocol agreement between the government and OCP group.

The ceremony is part of the proactive orientation promoted by the King, for many years, in matters of transition towards green energies and low-carbon economy. The ceremony comes in the morrow of the work meeting presided over by him in November 22, devoted to the development of renewable energies and to the new perspectives in the field.

At the beginning of the ceremony, OCP group Chairman and Chief Executive Officer, Mostafa Terrab, presented beforethe King the results of the group's first investment program, subject of High Royal Guidelines in 2012, and which helped solidly anchor OCP in the fertilizers market. By trebling its fertilizer production capacity, OCP group is today positioned as one of the world’s leading producers and exporters of phosphate fertilizers.

The group relied on research and development capabilities of the Mohammed VI Polytechnic University (UM6P) to seize the opportunities offered by the new industrial and digital technologies and to develop an expertise in innovative technologies for balanced fertilization to take up the challenges of sustainable agriculture and food security.

By investing in solar and wind power, the group plans to feed all its industrial facilities with green energy by 2027. The low-carbon energy will also be used to supply the new seawater desalination capacities in order to meet the group’s needs and provide the areas around OCP sites with drinking and irrigation water.

This investment will help the group, first world importer of ammonia, to eventually end reliance on these imports by also investing in renewable energy - green hydrogen - green ammonia sector, allowing the group to strongly enter the market of green fertilizer and of fertilization solutions adapted to the specific needs of different soils and crops.

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