Morocco will spend nearly €12 billion on green investments over the next 4 years
Source: https://www.jpost.com/business-and-innovation/article-724017
Author: Jerusalem Post Staff
A new green investment program has just been presented by the OCP Group in the presence of King Mohammed VI. Focusing on renewable energy, this program will run from 2023 to 2027 and opens up new opportunities for foreign specialized companies. Weighing 130 billion dirhams, over four years, this new investment program aims to increase fertilizer production capacity with a long-term goal of carbon neutrality before 2040, according to a statement from the Royal Cabinet. Having managed to triple its fertilizer production capacity in ten years, the OCP Group is now one of the world’s leading producers and expors of phosphate fertilizers. By strengthening this green ecosystem, Morocco’s ambition is to supply the new seawater desalination capacity with low-carbon energy in order to meet both the needs of the OCP group and the supply of drinking water and irrigation to the riparian zones of the Group’s sites. As the world’s largest impor of ammonia, OCP wants to eliminate these imports by investing in alternative energy sources, including green ammonia and green hydrogen. This is what will allow it to enter the market in green fertilizers and fertilization solutions adapted to the specific needs of different soils and crops.