Morocco’s OCP SA plans to build a phosphate processing plant in Brazil, according to Bloomberg, citing the website of Brazil’s Ministry of Agriculture, Livestock, and Supply. In a meeting this week, OCP CEO Mostafa Terrab assured Brazil Minister Marcos Monte that the plant would be built, according to the report.
The size and timeline for the new plant were not given. In addition to the investment, OCP will collaborate with Brazil on the country’s National Fertilizer Plan.
OCP is currently the largest supplier of phosphates to Brazil. In 2021, Brazil imported more than US$1.6 billion in fertilizers from Morocco. OCP has been operating in Brazil since 2010, with seven offices.