OCP Plans to Invest $7 Billion in Ammonia Production

The Moroccan OCP Group stated to Reuters that it "intends to invest seven billion dollars in an ammonia plant that will utilize green hydrogen produced from renewable fuels, as it seeks to increase production and meet carbon reduction targets." The group mentioned that it has signed "a deal to purchase ammonia from North America this year to mitigate supply chain issues." In the long term, the group plans to strengthen its local supply chain, including by building a plant in "Tarfaya," in southern Morocco. OCP Group is one of the largest importers of ammonia, having spent two billion dollars on raw materials last year, as global prices surged due to the war in Ukraine.