OCP launches MAD 5 billion bond to fund green transition

Yesterday 13:38

By: Dakir Madiha

OCP launches MAD 5 billion bond to fund green transition

Morocco’s OCP Group is preparing to raise up to MAD 5 billion through a perpetual subordinated bond issuance to finance the next stage of its industrial, energy, and environmental transformation strategy. The operation, approved by the Moroccan Capital Market Authority, will be offered exclusively to qualified Moroccan institutional investors between June 11 and June 15.

The financing initiative supports OCP’s new investment cycle, which focuses on expanding production capacity, accelerating renewable energy deployment, and strengthening water security. The group aims to consolidate its position as a global leader in sustainable plant nutrition while contributing to Morocco’s broader transition toward a greener economy. CDG Capital and Attijari Finances Corp have been appointed as financial advisors, while CDG Capital and Attijariwafa Bank will manage the placement process.

The fundraising effort comes after a more challenging start to 2026. OCP reported first-quarter revenue of MAD 20.1 billion, down from MAD 21.6 billion during the same period in 2025, as higher raw material costs and volatility in global fertilizer markets weighed on performance. Despite these pressures, the company continues to advance a long-term investment strategy that began with a major modernization program launched in 2008.

Having completed a first phase focused on improving efficiency and competitiveness, OCP is now moving toward large-scale projects in mining, renewable energy, desalination, and green technologies. One of its primary objectives is to increase annual production capacity for plant nutrition solutions from 16 million tonnes to 19 million tonnes by 2027. This expansion will be supported by the development of a new phosphate mine in Meskala and a major industrial platform in Mzinda.

Renewable energy forms a central part of the company’s transformation plan. OCP intends to power its industrial operations through solar, wind, and cogeneration energy sources to reduce carbon emissions and strengthen energy independence. Water security is also a priority, with the group expanding desalination capacity to achieve self-sufficiency for industrial activities while helping supply nearby communities facing water shortages.

A key component of the strategy is the domestic production of green ammonia, an essential ingredient in fertilizer manufacturing. OCP is developing a major green ammonia complex in Tarfaya with an annual production capacity of one million tonnes. The facility will be powered by a 4.4-gigawatt solar and wind platform, placing Morocco among emerging players in the global green hydrogen and green ammonia sectors.

The investment program is expected to generate broader economic benefits. OCP estimates that its projects could help create around 600 companies across energy, agriculture, and industrial sectors, while supporting approximately 25,000 direct and indirect jobs. Development projects are already progressing in Meskala, Mzinda, Khouribga, Gantour, and Boucraâ, including new mining facilities, processing units, and port infrastructure.

The planned bond issuance reflects OCP’s commitment to financing one of the largest industrial and energy transitions in its history. Through investments in sustainability, resource security, and industrial expansion, the group seeks to strengthen Morocco’s economic competitiveness and advance the country’s green development goals.