The Moroccan government has granted its approval for OCP Group to establish a joint company in Spain, for the production and marketing of organic fertilizers, and research and develop this vital field.
The approval came through a decree issued in the Official Gazette No. 7093, allowing the Group to create the company named Fertinagro OCP Organic Biosolutions, in equal shares with Fertinagro Biotech S.L company, of which the Group detains 20% capital.
The company will be created in the form of a joint-stock company with a board of directors, with a capital of 25 million euros, equivalent to MAD 270 million.
The company is expected to keep pace with the development in the organic fertilizer market, diversify the range of its products with new fertilizers with high added value, and provide fertilization solutions using the experience of Fertinagro in the sector.
The company’s project will be financed through loans nearing 60% the estimate value, while shareholders’ own resources are to complement the remaining 40%.
The company’s planned business plan anticipates that its turnover will go from about 4.4 million euros at the beginning to about 98.4 million euros by 2029, equivalent to an average annual growth of 47%.
Morocco is among the world’s top five fertilizer exporters, thanks to its massive production capacity and international reach, in addition to its work-leading phosphates reserves.
Global demand for Moroccan phosphate rose in light of the repercussions of the Russian-Ukrainian crisis, after Russia’s exports of this substance were affected by Western sanctions.
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