Morocco's phosphates exports rise by record 26.4pc in 2004

Morocco's state-owned phosphates company (OCP) posted in 2004 a record turnover in exports that were estimated at US $1.74 billion, i.e a 26.4pc increase compared to 2003.

OCP, the world's first exporter of phosphates and by-products, holds a share of 27.3pc in the international market, says a press release published Wednesday at the end of the group's governing board meeting, held under the chairmanship of Primer Minister, Driss Jettou.

The group launched in 2004 new industrial partnership projects, and set up a joint-venture with the Pakistani group Fauji, to build a phosphoric acid production plant in Jorf Lasfar (south of Rabat), of a capacity of 375,000 tons a year. OCP set up another joint venture with the Brazilian group 'Bunge Fertilizantes' for the construction of an integrated production unit of phosphoric acid and fertilizers.

OCP also announced it is projecting for the 2005-2009 period 10.3 billion Dhs (around US $1.21 billion) in investments.