FAR emblème

Washington strengthens Morocco’s air defense capabilities with Stinger Missiles

Morocco is set to strengthen its air defense deterrence capabilities with the upcoming acquisition of US-made 600 FIM-92K Stinger Block I missiles. The deal, worth $825 million, was cleared by the State Department with the Defense Security Cooperation Agency saying that Lockheed Martin will serve as the principal contractors for the project. The new missiles […]

EBRD supports Morocco’s automotive sector with €15 Mln funding

The European Bank for Reconstruction and Development (EBRD) has approved a €15 million loan to Moroccan car equipment supplier, Tuyauto, which produces stamped metal components, exhaust systems, and heat shields. The loan is guaranteed by the EU through the European Fund for Sustainable Development Municipal Infrastructure and Industrial Resilience program to support the company’s environmental […]

OCP reports $2.67 Bln earnings in 1st Quarter 2022

The revenues of the Moroccan state-owned phosphate group OCP reached $2.67 billion in the first quarter of 2022, up from $1.59 billion reported the same period last year. The record results achieved by OCP in 2021 have continued in the first quarter of 2022, driven by strong market conditions and operating efficiencies, says the OCP […]