The OCP group, world leader in soil and plant nutrition solutions, launched its new subsidiary “OCP Nutricrops” on the sidelines of the 16th edition of SIAM. This initiative aims to accelerate the group’s transition to personalized plant nutrition solutions and contribute to an equitable transformation of agriculture. On this occasion, the group raised $2 billion via a Eurobond issue in two tranches, in order to finance its ecological transformation plan.
The Office Chérifien des Phosphates (OCP) introduced its subsidiary “OCP Nutricrops” to boost the group’s transition towards innovative solutions in plant nutrition and soil health. “OCP Nutricrops” will draw on the group’s advanced expertise in the production and distribution of phosphate-based plant nutrients, thus offering farmers tailor-made solutions for protecting soil quality and sustainably increasing agricultural yields. , the fight against climate change and the preservation of the natural environment.
The main goal is to provide farmers with access to the most effective and sustainable solutions for soil health and plant nutrition, as well as the most cutting-edge application expertise, wherever they are. found in the world. In addition, this flexible production system makes it possible to develop plant nutrition solutions adapted to various crops, climates and soil types.
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This new entity of the group also offers training on micronutrient management techniques, ensuring that crops receive the right nutrients in optimal quantities, while reducing costs for farmers. The OCP Nutricrops product line is designed to help farmers protect and improve soil health, thereby increasing their yields and income.
The OCP group announced on Friday that it had raised $2 billion via a Eurobond issue in two tranches to finance its green transformation plan. According to Reuters, the bonds are divided into two tranches of $1.25 billion and $750 million, with maturities of ten years and thirty years and interest rates of 6.75% and 7.5% respectively. Subscription requests reached $6.2 billion, or 3.1 times the initial offer. These bonds are the first issued since OCP announced in 2022 a $13 billion strategy to shift entirely to renewable energy to power its industrial activities. The company also plans to invest in green hydrogen for ammonia production and in seawater desalination.
Following strong demand from international investors, an order book of $6.2 billion was built, exceeding the transaction amount more than three times. This sustained demand demonstrates the appeal of OCP on the international market.
The program aims to achieve ambitious goals in various areas. In terms of fertilizer production, the company plans to increase its capacity to 20 million tonnes of green manure per year by 2027, from 15 million tonnes currently. In the water and renewable energy sector, the company occupies a strategic position and aims for a renewable electricity production capacity of 5 GW by 2027, thanks to solar and wind energy, to meet its energy needs while reducing costs.
At the same time, the OCP Group plans to use 100% unconventional water in 2024 to guarantee its total independence, with a seawater desalination capacity of 560 million cubic meters per year in 2026. The group already supplies desalinated water to the towns of Safi and El Jadida, helping to alleviate the effects of recurring drought in Morocco. It also targets 100% use of clean energy in 2027 and carbon neutrality by 2040.
