Morocco launches mega project to boost green, low-carbon economy

0
164

DNA

RABAT: King Mohammed VI of Morocco chaired, on Saturday December 03, 2022, the signing ceremony of the relevant protocol agreement between the government and the OCP group (Morocco’sgiant fertilizer producer andtop exporter of phosphate fertilizers) concerning the new green investment program(2023-2027) of theGroup.

The ceremony comes in the morrow of the work meeting presided over by the Sovereign, last November 22, devoted to the development of renewable energies and to the new perspectives in the field.

The OCP group Chairman and Chief Executive Officer, Mr. Mostafa Terrab, presented before His Majesty the King the results of the group’s first investment program (2012) which helped solidly anchor OCP group 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.

Thanks to its partnership with Mohammed VI Polytechnic University in terms of research and development, the group was able to seize the opportunities offered by the new industrial and digital technologies.its reliance on state-of-the-art technologies, makes it led the way in sustainable agriculture and food security and develop an expertise in innovative technologies for balanced fertilization.

The new OCP investmentplan is in line with King Mohammed VI’s instructions relating to the need for a faster transition toward a carbon-neutral economy. Itrevolves around increasing the fertilizer production capacities, while committing to achieve carbon neutrality before 2040 by relying on the unique source of renewable energies as well as on the Kingdom’s progress in this field.

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.

This ambition will be backed by supporting programs for industrial Small and Medium-Sized Enterprises and those operating in the sectors of energy and agriculture, hence, favoring the emergence of an innovative national ecosystem and the creation of new employment and job integration opportunities for the youth.

The new program, which will help consolidate OCP’s world position, provides for a global investment of 13 billion dollars (130 billion dirhams) over the period 2023-2027, the achievement of a local integration rate of 70%, the backing of 600 Moroccan industrial enterprises and the creation of 25000 direct and indirect jobs.