Moroccan phosphate group launches major investment program to expand its production capacity.
Rabat - Moroccan phosphate group "Office Cherifien des phosphates" (OCP) has announced the launch of a major investment program to expand its production of Diammonium Phosphate (DAP)and Monoammonium Phosphate (ADP).
This program will involve the construction of four identical new production (DAP) and (ADP) plants, each with a capacity of 1 million tons per year, to be built and commissioned in six months intervals over the period July 2013 to July 2015, OCP said in a release on Friday. According to the same source, this significant expansion will increase Morocco's capacity to produce DAP/ADP from the current 3 million tons per year to more than 9 million tons, making Morocco by far the largest supplier of phosphate rock, phosphoric acid and DAP/ADP Anchored in OCP's Jorf Phosphate Hub in Jorf Lasfar, in Morocco, this new investment is part of a broader and ongoing investment program, totaling 7 billion dollars over 7 years, the group underlined. This program aims to increase mining capacity from 30 to 50 MT/Year, beneficiation capacity gradually from 9 to 38 million tons a year, expand a port facility at Jorf Lasfar to handle up to 35 million tons of products, and upgrade the Jorf platform common infrastructure, which will be supplied in rock phosphate by a new slurry pipeline to be commissioned in the first quarter 2013. With a capacity of 44 million tons per year, the project is expected to drive down mine-to-port transport costs and dramatically decrease energy consumption and environmental impacts from that transport. The expansion of production capacity came in response to growing global demand for phosphate, OCP's Chairman and CEO Mostafa Terrab explained, underscoring that "this major investment in increasing our capacity is a prudent response to long-term market trends, and a strong sign of OCP's commitment to do its part to assure stable, reliable supply of this vital resource to global markets." Terrab also highlighted that global phosphate demand is projected to grow steadily in coming years, given the combined pressures of population growth, changing diets among a growing middle class, and the urgent need to improve agricultural yields in developing countries, particularly in Africa, and thereby combat hunger. Leader in the phosphate rock and derivatives market, the group plays a major role in the five continents and owns one of the largest phosphate reserves in the world. It is the world's number one exporter of phosphate and phosphorus acid and one of the major exporters of phosphate fertilizers.
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|Publication:||Agence Maghreb Arabe Presse (MAP)|
|Date:||Nov 26, 2010|
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