OCP Group, a leading phosphate-based fertilizer producer, has secured EUR 200 million (~USD 218 million) in funding led by KfW, Germany's development and investment bank.
The funds will be utilized to fulfill its USD 13 billion green investment strategy from 2023 to 2027. This includes 100% non-conventional water use in its industry by 2024, 100% clean energy by 2027, and full carbon neutrality by 2030 and 2040. The strategy also includes a USD 7 billion investment in the production of green hydrogen and green ammonia and expects to create 25,000 jobs by engaging with 600 companies.
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