A EUR 130 million loan to finance the upgrading of OCP SA’s facilities was signed on Monday 8 October 2012 by Mohamed El Hajjouji, Executive Director in charge of Finance and Management Support at OCP SA, and Philippe de Fontaine Vive, Vice-President of the European Investment Bank (EIB). This new loan, which does not carry a sovereign guarantee, testifies to the EU financial arm’s confidence in OCP. It represents the continuation of a EUR 200 million loan agreement signed on 30 December 2011.
The loan forms part of the strategy of diversifying and optimising the OCP Group’s sources of finance with a view to upgrading its facilities and increasing its production capacity. It will specifically finance the construction of two low-grade phosphate processing and enrichment plants in Khouribga and two more modern sulphuric acid production plants in Safi to replace the existing facilities.