RABAT, June 6 – Morocco’s phosphate giant OCP Group is preparing to raise up to MAD 5 billion ($540 million) through a perpetual subordinated bond issuance as it accelerates a new phase of investments in industrial expansion, renewable energy, water infrastructure, and green technologies.
The fundraising program, approved by the Moroccan Capital Market Authority, will be offered exclusively to qualified Moroccan institutional investors between June 11 and June 15.
The financing marks a significant step in OCP’s long-term strategy to strengthen its position as one of the world’s leading producers of phosphate-based fertilizers while advancing Morocco’s broader sustainability and industrial development agenda.
The bond issuance comes as OCP embarks on a major investment cycle aimed at expanding production capacity, enhancing energy independence, and improving environmental sustainability across its operations.
Despite reporting first-quarter revenue of MAD 20.1 billion ($2.17 billion) in 2026, down from MAD 21.6 billion ($2.33 billion) a year earlier due to higher input costs and volatile fertilizer markets, the company continues to pursue large-scale growth initiatives.
A central objective of the strategy is increasing annual production capacity for plant nutrition products from 16 million tonnes to 19 million tonnes by 2027.
The expansion will be supported by the development of a new phosphate mine in Meskala and a major industrial platform in Mzinda, strengthening Morocco’s role in global fertilizer supply chains.
Beyond mining and fertilizer production, OCP is undertaking one of the largest industrial decarbonization programs in Africa.
The company plans to power its operations through a combination of solar energy, wind power and cogeneration systems, reducing reliance on conventional energy sources while supporting Morocco’s renewable energy ambitions.
Water security has emerged as another key pillar of the group’s transformation strategy.
OCP is investing heavily in desalination facilities to achieve water self-sufficiency for its industrial operations while contributing additional water supplies to surrounding communities facing increasing water stress.
The company is also investing in green ammonia production, which is becoming increasingly important for the future of fertilizer manufacturing.
Green ammonia is produced using renewable energy and can reduce dependence on imported feedstocks while lowering carbon emissions across fertilizer value chains.
One of OCP’s flagship projects is a large-scale green ammonia complex in Tarfaya that is expected to produce one million tonnes annually.
The facility will be powered by a 4.4-gigawatt solar and wind energy platform, positioning Morocco among emerging global players in the green hydrogen and green ammonia industries.
The broader investment program is expected to have significant economic spillover effects.
OCP estimates that its projects could support the creation of approximately 600 companies across industrial, agricultural and energy sectors while generating around 25,000 direct and indirect jobs.
Several projects are already advancing across Morocco, including mining and processing expansions in Khouribga, Gantour and Boucraâ, alongside new logistics and port infrastructure developments.
The planned bond issuance highlights OCP’s commitment to financing one of the most ambitious industrial and green transformation programs in its history.
As global demand for sustainable agriculture, renewable energy and low-carbon industrial products continues to grow, OCP is positioning itself at the intersection of food security, energy transition and industrial development.
