Morocco’s OCP Group, a phosphate company, has initiated an investor roadshow for an international bond valued at up to $2 billion to support its development plan. The plan, announced in 2022, outlines a $13 billion green transition endeavor, aiming to power all industrial facilities with green energy by 2040. Managed by BNP Paribas, Citi, and JP Morgan, the bond issuance is part of OCP's strategy to achieve carbon neutrality and reduce reliance on ammonia imports. A significant aspect of the plan involves investing $7 billion in a Tarfaya-based ammonia plant, utilizing green hydrogen to meet production needs locally and decreasing the $2 billion ammonia import bill incurred in 2022 due to global supply chain disruptions.
Aligned with its commitment to green initiatives, OCP plans to produce 200,000 tons of green ammonia by 2026, scaling up to one million tons by 2030. The company aims to expand its production to three million tons by 2032, in line with its goal of utilizing 100 percent green ammonia in its products. These strategic moves underscore OCP's dedication to sustainable practices and environmental responsibility.