Morocco to sell phosphates to Norway

Morocco's state-owned phosphate group (OCP) signed on Monday an agreement with Norwegian "Norsk Hydro ASA" company making of the Moroccan firm its "privileged supplier" of raw phosphate products.

The agreement underlines the two companies' will to promote cooperation and turn it into a long-term strategic alliance in matters of phosphates and fertilizers.

The Norwegian company has 17 production units spread across Europe, selling more than 19 million tonnes of finished fertilizers while Morocco's (OCP) group produces annually 23 million tonnes of raw phosphates and 2.6 million tonnes phosphoric acid.

OCP is Morocco's largest industrial firm providing 25 percent of the country's exports and 3 percent of the GDP.

The company, which is one of the major engines of Morocco's economy, employs 28,000 workers (including 800 engineers) and posts $ 1.3 billion turnover.