Morocco’s Competition Council has approved the formation of a joint venture between Australia’s Fortescue Ltd (ASX:FMG) and Casablanca-based fertiliser producer OCP Group. This venture aims to develop a major renewable energy, green hydrogen, and ammonia production hub in Morocco.
The antitrust regulator gave its approval for the 50-50 joint venture during a meeting on July 24.
The project, first announced in April, is designed to provide green hydrogen, ammonia, and fertilisers to Morocco, Europe, and other international markets.
The initiative involves setting up large-scale facilities for producing green ammonia and fertilisers, as well as renewable power plants to supply the necessary electricity. The plan also includes the development of green technology and equipment, along with establishing a technology hub near Marrakech for research and development in renewable energy, green hydrogen, and mineral processing.
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