Morocco's phosphates corporation still world leader

Despite a difficult juncture, the Moroccan phosphates corporation (OCP/state-owned) consolidated in 2001 its position as world leader of crude phosphate and phosphoric acid exports with 35.1 percent and 37.5 percent of world market share respectively, Moroccan Premier Abderrahmane Youssoufi said Friday.

OCP tangibly improved exploitation, valued at $ 240 million in 2001 against $ 160 million in 2000, Youssoufi told the corporation's governing board meeting.

These results were scored thanks to a new strategy relying on international partnership and investment, he said, adding the strategy helped the corporation increase processing capacities and diversify production to high-level output.

Among the successful partnership projects, Youssoufi cited a cooperation agreement with India's Birla group for production of phosphoric acid. This partnership has made a new step forward through the purchase of 74 percent of the capital of the Indian Paradeep firm, he said.

Nationally, OCP concluded partnership accords with local small and medium firms that helped generate more jobs for the youth, said Youssoufi, who chairs the corporation's governing board.

OCP President and Managing Director, Mourad Cherif, deplored an adverse international juncture since 1999. This juncture, he said, was marked by a decrease in phosphates and by-products demand, particularly from China and India.

OCP produced 22.5 million tons of phosphates in 2001 against 21.9 million tons in 2000. Morocco's exports of phosphates and by-products increased by 2.7 percent in 2001 and the exports sales stood at $ 1.36 billion.

Cherif said the corporation plans to invest more than $ 1 billion in 2003-2007.