IFC has announced a €100 million (approximately $108 million) loan to OCP Group to increase sustainable water supplies for farmers and households in Morocco, as well as for fertilizer production.
The loan will support the construction of a 219-kilometer pipeline and pumping station to transport desalinated water from OCP Group’s existing and planned desalination plants in Jorf Lasfar on the Atlantic Ocean to the Group’s production sites in Khouribga.
”Construction is already well advanced and, once completed, the pipeline will have a total annual capacity of 80 million m3, equivalent to the water contained in more than 32,000 Olympic swimming pools,” explains OCP, for whom Morocco is working to remedy a situation of severe water stress, which affects agricultural production and impacts the country’s economic development. This project will provide OCP Group with a sustainable and reliable source of water in addition to freeing up water for farmers, businesses and consumers in and around Khouribga.
In a statement, OCP Group CEO Mostafa Terrab said:
”We are delighted with IFC’s support and guidance in addressing one of the most pressing challenges of our time: water scarcity… This project demonstrates OCP Group’s commitment to sustainable development and innovation. By securing a reliable source of desalinated water, we are not only enabling the continued growth of our operations, but also providing critical resources to local communities. This initiative is perfectly aligned with our vision of strengthening resilience and food security across Africa. Together with IFC, we are charting a path toward a sustainable and prosperous future.”
“By supporting the construction of this pipeline, IFC is enabling OCP Group to not only meet its own water needs, but also provide vital water resources to communities and support the production of high-value crops, contributing to a more resilient and food-secure future for Africa.”
As a reminder, the pipeline is part of the OCP Group’s water program, implemented by its specialized subsidiary, OCP Green Water, which aims to supply 100% of non-conventional water to the Group by the end of 2024. By 2027, thanks to investments totaling $611 million, the OCP Group plans to have a production capacity of 560 million m3/year of desalinated water and 60 million m3/year of treated wastewater. Combined with new technologies to reduce the Group’s water needs, this will not only guarantee the supply of its industrial operations, but will also offer excess capacity to local communities, thus strengthening their resilience to climate change.
By 2030, the pipeline is expected to be powered entirely by renewable sources, improving access to sustainable water resources and strengthening resilience to climate shocks.
As a reminder, since 2021, IFC and the OCP Group have been collaborating to develop sustainable food systems in Africa, build solar power plants and green fertilizer production units, promote gender equality and support the Group’s sustainability strategy.
H.Z
#Water #stress #IFCOCP #recipe
– 2024-09-18 20:32:16
