Announced

OCP Group and Fortescue to form a joint venture.

Synopsis

OCP Group, a multi-business group, and Fortescue, a metal mining company, agreed to form a joint venture to supply green hydrogen, ammonia, and fertilizers to Morocco, Europe, and international markets. Financial terms were not disclosed. "OCP and Fortescue are fully aligned on their ambitions. We intend to create in Morocco one of the world’s leading integrated renewable energy, manufacturing, and technology enterprises, supplying not only a large and growing domestic market for green products, but also with the potential to supply other countries and continents. This is a very significant moment for Fortescue, OCP Group and Morocco as we help revolutionize the way we power our planet and diversify the world’s future energy security, while creating thousands of jobs and industries in Morocco," Mark Hutchinson, Fortescue CEO.

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