OCP receives approval for 500 Million USD bond issue to fund green transition

The Moroccan Capital Markets Authority announced on Wednesday that the giant Moroccan phosphate and fertilizer company, OCP, has received approval to issue regular bonds worth 5 billion dirhams (500 million USD).

The company plans to invest 13 billion USD between 2023 and 2027 to fully transition to renewable energy and desalinated water for its industrial activities, with the goal of achieving full carbon neutrality by 2040.

A statement issued by the authority also noted that the company raised 11 billion dirhams in debt from Moroccan and international banks during the first half of this year.

Additionally, the statement mentioned that the group has been in discussions since June 2024 with international and local banks for loans exceeding 1 billion USD.

The post OCP receives approval for 500 Million USD bond issue to fund green transition appeared first on HESPRESS English – Morocco News.

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