Trade & Investment, the agency that scouts for business
abroad for British companies, has drawn attention to an
investment program launched by Morocco’s Office
Cherifien des Phosphates that could be worth a cool €9
billion. OCP recently raised €175 million in a
first-ever bond issue that was oversubscribed to the
tune of €1.2 billion.
money will contribute towards OCP’s wider, 10 year
expansion program aimed at: upgrading the Khouribga and
Benguerir mines (€2,2 billion: a contract has been put
out to tender for scouring and re-processing Benguerir’s
tailings; on installing new chemical plants (€3.5
billion); and in building up the Jorf Lasfar phosphates
hub (€1.2 billion) along with other infrastructure such
as a minerals pipeline (€500 million).
Morocco’s biggest company, Office Cherifien des
Phosphates stands in the front line on the world market
for phosphates and byproducts. The group is the world’s
leading exporter of raw phosphate and phosphoric acid
and a top exporter of phosphate-based fertilizer.
company is currently capitalizing on an increase in
demand for fertilizer stemming from a surge in farm
product prices. It hopes in the coming five years to
boost its output by 66%, to 50 million tons per annum.
wants to get more out of operations
According to sources in the mining services industry,
Morocco's Office Cherifien des Phosphates (OCP) has
issued a call for bids for feasibility studies on
optimizing all of its mining operations (reducing costs,
improvement or change in ore extracting procedure, etc.