(Reuters) – Office Cherifien des Phosphates (OCP) plans to raise its output of fertilisers by 2020 to 10 million tonnes, from 3.6 million, as Morocco’s top export earner bets on a rapid increase in global demand, company sources said on Thursday.
The state-owned phosphate monopoly also plans to raise phosphate mining capacity to 55 million tonnes by 2020 from 28 million tonnes currently, the sources told Reuters.
OCP aims to complete 65 percent of the planned increases in fertiliser and phosphate mining capacity by 2015, the sources said.
“This expansion plan aims to boost OCP’s role in the Moroccan economy and respond to a speeding increase in global demand for fertilisers,” one of the sources said. (Reporting By Souhail Karam; Editing by Anthony Barker)
.
