“To increase sustainable water supplies for fertilizer production, farmers and households in Morocco, IFC today announced a €100 million (approximately $108 million) loan to OCP Group, a global leader in plant nutrition solutions and phosphate fertilizers,” said a joint statement issued in Washington.
The loan will support the construction of a 219 km pipeline and a pumping station to transport desalinated water from OCP Group’s existing and planned desalination plants in Jorf Lasfar to the Group’s production sites in Khouribga.
Once completed, this pipeline, whose construction is already well advanced, will have a total annual capacity of 80 million cubic meters, the statement said, adding that the project will provide OCP Group with a sustainable and reliable source of water in addition to releasing water for farmers, businesses and consumers in the city of Khouribga and its surroundings.
“This project demonstrates OCP Group’s commitment to sustainable development and innovation,” said Group CEO Mostafa Terrab, quoted in the statement, adding that by securing a reliable source of desalinated water, “we are not only enabling the continued growth of our operations, but we are also providing essential resources to local communities.”
This initiative, he continued, aligns perfectly with the Group’s vision of strengthening resilience and food security across Africa, stressing that with IFC “we are charting the course towards a sustainable and prosperous future.”
For his part, IFC Director General Makhtar Diop said that “this innovative project by the OCP Group shows how companies can develop solutions to address complex development challenges.”
By supporting the construction of this pipeline, IFC is enabling OCP Group to meet its own water needs, provide vital water resources to communities, and support the production of high-value crops, thereby contributing to a more resilient and food-secure future for Africa, Mr. Diop said.
The pipeline is part of the OCP Group’s water program, implemented by its specialized subsidiary, OCP Green Water, which aims to supply 100% non-conventional water to the Group by the end of 2024, the press release said.
By 2027, thanks to investments totaling 611 million dollars, the OCP Group plans to have a production capacity of 560 million m3/year of desalinated water and 60 million m3/year of treated wastewater.
Combined with new technologies to reduce the Group’s water needs, this will not only ensure the supply of its industrial operations, but will also provide excess capacity to local communities, strengthening their resilience to climate change.
While supporting Morocco’s priority in sustainable development, the project aligns closely with the World Bank Group’s strategy in Morocco, which pays particular attention to climate.
By 2030, the pipeline is expected to be powered entirely by renewable sources, improving access to sustainable water resources and strengthening resilience to climate shocks.
Since 2021, IFC and OCP Group have been collaborating to develop sustainable food systems in Africa, build solar power plants and green fertilizer production units, and promote gender equality.
Active in Morocco for 60 years, the International Finance Corporation has invested and mobilized, over the last three financial years, more than a billion dollars to support sustainable economic development.
2024-09-14 10:43:38