Morocco’s phosphate giant OCP Group achieved exceptional financial performance in 2024,recording revenue of 96.99 billion dirhams and net profits surging 46% to 20.9 billion dirhams,marking the company’s second-best year in history while accelerating its green transformation initiatives.
The state-owned company,which controls over 70% of global phosphate rock reserves and holds 31% market share of world phosphate products,generated revenues of $9.76 billion in 2024 while employing nearly 17,000 people in Morocco.
The remarkable results enabled unprecedented investment levels,with 43.59 billion dirhams allocated to production facilities—a 63% increase from the previous year. These investments support OCP’s 130 billion dirham Green Investment Program for 2023-2027,partially funded through 80 billion dirhams raised in capital markets.
Looking ahead to 2025,projections indicate revenue reaching 105.3 billion dirhams,though net profit may moderate to 18.4 billion dirhams due to increased financial charges. Investment momentum continues with 53 billion dirhams planned for capital expenditures.
The investment program backs production increases from current levels to 20 million tons of fertilizer by 2027,while committing to supply industrial facilities exclusively with green energy from wind,solar,hydroelectric and co-generation sources by 2027.
Water management represents a critical component of OCP’s sustainability strategy. The progressive commissioning of the Jorf Lasfar desalination station,providing 60 million cubic meters annually to southern Casablanca,marks a milestone achievement. Construction of an aqueduct linking Jorf Lasfar to Khouribga advances,securing non-conventional water supplies for operations.
Production capacity expansions include two new sulfuric acid lines at Jorf Lasfar and a one-million-ton fertilizer line. These additions support OCP’s target of increasing fertilizer production from 12 to 20 million tons by 2030,strengthening global food security contributions.
Energy transition initiatives show significant progress,with a 202-megawatt solar project at Khouribga and Benguérir injecting first green electricity in September 2024,advancing toward targets of 5 gigawatts clean energy capacity by 2027 and carbon neutrality by 2030.
The strategic programs include the Mzinda-Safi corridor targeting 12 million tons phosphate rock,3 million tons phosphoric acid,and 8.4 million tons fertilizer annually by 2028. The Meskala-Essaouira corridor aims for 20 million tons rock,1 million tons acid,and 2 million tons fertilizer by 2030.
OCP’s trajectory demonstrates successful integration of economic performance with environmental responsibility. Through massive investments in water infrastructure,renewable energy,and production capacity,the group reinforces its global leadership while positioning Morocco as a critical player in sustainable industrial transformation and worldwide food security.
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