OCP: Mega Project for the Storage and Valorization of Phosphogypsum in Jorf Lasfar with Support from the IFC
OCP Group to Forge New Financial Partnership with IFC for Phosphogypsum Management Project
The OCP Group is set to finalize a new financial partnership with the International Finance Corporation (IFC), a member of the World Bank Group, for a significant project focused on the management of phosphogypsum at the Jorf Lasfar site.
The IFC plans to extend a loan of approximately €95 million as part of a total project estimated at €190 million.
A High-Capacity Storage Unit
The project includes the construction of a terrestrial storage facility for phosphogypsum with a capacity of up to 22 million tons at the Jorf Lasfar industrial site, with an estimated storage height of 60 meters. This infrastructure aims to enhance the management of this industrial by-product generated from the conversion of phosphate into phosphoric acid.
A Strategy Focused on Circular Economy
For several years, OCP has been implementing a valorization strategy for phosphogypsum, seeking to transform this waste product into a valuable resource across various sectors, including agriculture, construction materials, and road infrastructures. This project aligns with principles of circular economy and sustainable development.
An Expanded Partnership with IFC
This new financing extends the broader cooperation between OCP and IFC, initiated in 2021, which covers projects related to sustainable food systems in Africa, renewable energy sources, green fertilizer production, and gender equality initiatives.
A Sustainable Industrial Vision
OCP’s investment program, estimated at $13 billion for the 2023-2027 period, aims to bolster the production of clean energy, water, and low-carbon fuels, while strengthening an industrial model based on sustainability and resource valorization.
