Phosphate exports earn Morocco $ 1.5 billion every year
Morocco, Economics, 4/18/2001

Phosphate exports earn Morocco $1.5 billion per year and the Office Cherifien des Phosphates group (OCP) contributes 2.6 percent of the GDP and 18.5 percent of Morocco's overall exports.

The figures were disclosed by the OCP general director, Mohamed Berrada in an interview with Moroccan daily "Al Ittihad Al Ichtiraki."

Part of its 2001-2005 five-year program, the group is projecting to invest some $ 780 million (7.8 billion DH) in its production units and maritime transport fleet, Berrada said.

He explained further that in order to promote exports, the group purchased six tankers to convey phosphoric acid and will earmark over the coming five years some $ 120 million (1.2 billion DH) to promote this fleet.

The OCP seeks to strike new partnership deals with foreign phosphate and chemical industries firms and is following with keen interest the privatization operations under way in Poland and India, he said recalling that his group was holding 50 percent of the capital of the Belgian Prayon company.

Berrada stated further that despite the competitiveness of some producer countries such as China, India and Australia and of some new exporting countries such as Australia, Lituania and Russia, OCP chare in world phosphate exports went up from 25.3 percent in 1999 to 26.2 percent in 2000.

Touching on the role played by OCP at the social level, Berrada said that 26,000 workers and 20,000 retired persons live on OCP resources and that the OCP pays $ 160 million (1.6 billion DH) worth of taxes to urban and rural communities.

Previous Stories:
  Morocco's trade deficit worsens by 39.8% in 2000   (3/10/2001)
  Energy output on the rise, mining and industry slow down   (12/22/2000)

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