Entire Output of New Moroccan Fertilizer Plant to Be Destined to Africa
Morocco’s Phosphates group, OCP, is about to complete the construction of a fertilizer plant in Jorf Lasfar (110 km south of Casablanca) whose entire output will be destined to the African market.
The plant, costing about $ 600 million, is expected to produce one million tons of fertilizers per year that will be wholly exported to Africa, announced the group’s CEO Mustapha Terrab on Wednesday during the Moroccan-Malian economic high-level forum, held in Bamako on the sidelines of the official visit Morocco’s King Mohammed VI is paying to Mali.
According to the CEO of the world’s largest exporter of phosphates, the decision to destine the output of the fertilizer plant exclusively to Africa was made by the King in person.
He explained that this huge project is intended to support the African market which is scoring increasing growth. It will also give greater visibility to African fertilizer distributors who will meet, thanks to a steady supply, the needs of their respective markets.
Malian Minister of Energy and Mines, Boubou Cisse, who described the move as very positive, said it falls in line with the strategy seeking to devote the continent’s natural resources to the development of African economies first.
The Jorf Lasfar new plant, whose construction works started about two years ago, is expected to be operational over the coming months.
The location of the new plant in Jorf Lasfar, which has a deepwater port, will facilitate the shipment of the fertilizers to African markets.
The Morocco-Mali business forum discussed means to boost economic cooperation between the two countries and pondered on the existing mutually-profitable partnership opportunities.
Moroccan industry, trade, investment and numeric economy minister, Moulay Hafid El Alamy, said the forum reflects the two countries’ resolve to open new cooperation prospects and promote economic exchanges.
King Mohammed VI who started on Tuesday a visit to Mali and who co-chaired on Thursday with the Malian president Ibrahim Boubacar Keita the signing ceremony of seventeen cooperation agreements covering various areas is accompanied by a large delegation of businessmen and economic operators as he is keen on involving Moroccan entrepreneurs in the promotion of Morocco’s economic and social relations with African countries.
The King’s visit to Mali is the first step of an African tour that will lead him also to Guinea, Côte d’Ivoire and Gabon.
