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OCP embarks on a new strategy of over $ 2 bln.

Summary: Morocco's state owned Office Cherifien des Phosphates (OCP) has embarked on a new strategy to consolidate its leadership in the global market, worth some $ 2.7 bln, said, here Friday, OCP General Director, Mostafa Terrab.

During a meeting with the press to present the strategy, Terraba said that the latter provides for several projects including the construction of a pipeline to transport finished phosphate products from Khouribga, Youssoufia and Bengurir sites, to Jorf Lasfar platform. <p>aaa The new strategy consists of two projects to modernize the fleet of vessels transporting phosphate to foreign markets.

aa In terms of international cooperation, the group will strengthen strategic partnership with India, Pakistan and Belgium, while encouraging other professionals to invest directly in Morocco. The partnerships will also concern Latin America, including Mexico and Brazil, Terraba said.

aaa In terms of the 2007 financial results, OCP General Director pointed out that the group achieved a significant growth of 63% compared to 2006.

aaa As for the current year, the departments of production and marketing forecast a turnover of around $ 8 bln at the end of December 2008, that is a 154% rise compared to 2007.

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Publication:UMCI News (Potomac Falls, VA)
Date:Sep 21, 2008
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