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Morocco's OCP Group, a leading phosphate miner, phosphoric acid manufacturer, and fertilizer producer, announced a joint venture with green energy and technology company Fortescue Metals Group on Monday.
The partnership aims to supply green hydrogen, ammonia, and fertilizers to Morocco, Europe, and international markets, according to a press release from OCP.
Through this joint venture, OCP Group and Fortescue plan to establish a large-scale integrated green ammonia and fertilizer production capacity. This includes renewable energy generation, electrolysis, ammonification, fertilizer production, and green manufacturing capabilities.
The venture also includes plans to establish an R&D and Technology Hub located alongside Mohammed VI Polytechnic University (UM6P) near Marrakech. This hub will support the joint venture, the broader ecosystem, and other players by conducting research in renewable energy, green hydrogen, and mineral processing. Additionally, the partners will collaborate through their corporate venture capital funds to drive investment in key technological advancements.
Through this collaboration, OCP and Fortescue aim to supply green hydrogen and ammonia for use as both green energy sources and in the production of carbon-neutral and customized fertilizers. These fertilizers will be accessible and affordable for farmers worldwide, according to OCP.
«Our strategic partnership with Fortescue underscores our shared commitment to decarbonization, fostering the development of cutting-edge facilities, and delivering competitive renewable energy products and technology», said Mostafa Terrab, Chairman and CEO of OCP Group.
«This is a crucial step towards achieving our vision of simultaneously ensuring global food security and combating climate change», he added.
«Together, Fortescue and OCP will build a world-leading and globally competitive platform, propelling Morocco's journey into a green energy production, manufacturing, and industrial powerhouse», stated Dr. Andrew Forrest AO, Fortescue Executive Chair and Founder.
Fortescue Energy CEO, Mark Hutchinson, further commented: «OCP and Fortescue share ambitious goals. We aim to establish one of the world's leading integrated renewable energy, manufacturing, and technology enterprises in Morocco. This venture will not only supply a large and growing domestic market for green products but also has the potential to serve other countries and continents».
It's important to note that the venture is subject to customary closing conditions, including regulatory approvals.
