• IFC to approve €95m loan for OCP phosphogypsum facility

• Project supports 22m-ton storage at Jorf Lasfar complex

• Financing aids expansion as fertilizer output targets rise by 2027

The International Finance Corporation is set to approve a loan of up to 95 million euros ($111 million) for Morocco’s OCP Group on Monday, May 11. The funding will support the construction of a phosphogypsum storage facility with a capacity of 22 million metric tons at the Jorf Lasfar industrial complex.

The total project cost is estimated at 190 million euros, and the loan, structured as corporate debt, is expected to cover half of that amount. The facility, which will reach a height of 60 meters, is intended to help the group manage rising volumes of phosphogypsum generated by its phosphoric acid units in a more sustainable way.

The deal also includes a strategic advisory component. The IFC is supporting OCP in identifying commercial uses for phosphogypsum, a byproduct long treated as industrial waste but now attracting growing interest for applications in road construction, soil treatment and rare earth extraction.

This financing is part of a broader increase in IFC support for the Moroccan group. Since 2023, the institution has provided more than 300 million euros in loans for solar energy, desalination and water infrastructure projects.

For OCP, in which the Moroccan state holds a 94.12% stake, the issue goes beyond environmental compliance. As fertilizer production capacity is expected to rise from 12 million to 20 million metric tons by 2027, effective phosphogypsum management will be essential to scaling up operations at the Jorf Lasfar site.

Fiacre E. Kakpo