Casablanca, Morocco (ADV) – The world leader in phosphate fertilizers, the OCP group, announced this week the launch of two new subsidiaries. Called OCP Fertinagro Advanced Solutions and OCP Singapore Services and Products, the two new companies will allow the Moroccan group to strengthen its presence in the international fertilizer market.
OCP Singapore Services and Products, created through OCP International, aims to strengthen the presence of the Moroccan giant in Asia and the markets of the Pacific Ocean. It forecasts a turnover of $ 30 million by 2023, including $ 25 million for specialty products.
As for OCP Fertinagro Advanced Solutions, it specializes in the production and marketing of high value-added fertilizers, says the OCP group. The company, set up in partnership with Fertinagro Biotech and owned equally by the two partner groups, has a capital of 275 million dirhams. According to the OCP, it is planned for this new subsidiary, an industrial unit with an initial capacity of 250,000 tons. This important project requires an investment of more than 40 million euros, 60% of which is from a banking source and the rest from own funds.
The OCP Group is one of the largest exporters of crude phosphate, phosphoric acid and phosphate fertilizers worldwide. It has several subsidiaries including OCP International for international investments and OCP Africa which is the African subsidiary of the group, dedicated to the agricultural transformation on the Continent. With the latter, OCP’s Board of Directors approved since 2016 the launch of 14 new subsidiaries in sub-Saharan Africa targeting countries such as Côte d’Ivoire and Senegal.