The European Financial institution for Reconstruction and Growth (EBRD) reaffirmed on Tuesday its help for the power transition in Morocco, by way of the granting of a mortgage of 150 million dirhams to PROCANEQ, an organization created in 2016 in Morocco and which offers mining subcontracting providers to the OCP group.
To speed up the sector’s inexperienced transition, the EBRD financing shall be used to buy new gear for the extraction and transport of phosphate to processing amenities from a number of mines, the London-based establishment mentioned in a press release.
The brand new gear will provide higher gas effectivity, which can cut back the corporate’s diesel consumption and carbon emissions, the identical supply added.
“Morocco advantages from a super geographical location and distinctive phosphate sources, of which it holds greater than 75% of the world’s reserves,” the EBRD argues, noting that the Kingdom can be “the most important exporter” of phosphate on this planet, with OCP because the chief.
Morocco is a founding member of the EBRD and have become a beneficiary of the Financial institution’s sources in 2012. Up to now, the EBRD has invested greater than €4.6 billion within the nation by way of 103 tasks.
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– 2024-07-03 14:56:38
