The Office Chérifien des Phosphates (OCP), of which the Moroccan state owns 95%, is considering opening its capital to foreign investors for the first time since its creation in 1920, Bloomberg agency reported on 14^th September, citing 2 well-informed sources.

The world leader in phosphates is currently reviewing the possibility of foreign investors, such as sovereign funds for example, taking an equity stake in its capital, the same sources emphasised, indicating that this operation could be a first step before launching an IPO in 2 or 3 years.

OCP, which holds 75% of the world phosphate reserves retained French bank Rothschild as financial adviser. The CEO of the group, Mostapha Terrab (pictured) declared in an interview given to Bloomberg that all financing options could be considered and opening the capital is not a “taboo”, provided that the government has the final say. “There is only one red line: the Moroccan State would maintain its majority shareholding. Apart from that, we are open to all financing options that will further our strategy and protect the interests of our shareholders”, Mr. Terrab explained.

L’OCP a entamé un plan d’expansion de 20 milliards de dollars sur une période de dix-huit ans 2008-2025 en vue de doubler sa production de minerais bruts et de tripler sa  production d'engrais.

OCP initiated an expansion pprogram of USD 20 billion covering a period of 18 years from 2008 to 2025 in order to double mining output and triple fertiliser production.