Casablanca – US-based Koch Group is seeking to enter Morocco’s phosphate fertilizer sector through a proposed acquisition of a 50% stake in Jorf Fertilizers Company I, a subsidiary of state-owned phosphate producer OCP Group. The transaction would establish joint control between the American group and OCP, giving both shareholders an equal stake in a company operating industrial facilities for the production of phosphate derivatives.

The proposed acquisition has been notified to Morocco’s Competition Council, which is reviewing the transaction under the country’s competition legislation. The regulator has set October 19, 2026, as the deadline for interested parties to submit comments before it continues examining the file and decides whether to authorize the operation.

The deal would represent an investment in an existing industrial operation rather than the construction of a new fertilizer complex. Through the acquisition, Koch would gain access to production activities linked to Morocco’s phosphate resources, while OCP would retain a substantial ownership position and share control of the company with its prospective American partner.

The financial value of the transaction has not been disclosed, and the final outcome will depend on regulatory approval.

Koch targets an established phosphate producer

The proposed transaction concerns Jorf Fertilizers Company I, which is currently wholly owned by OCP Nutricrops, an OCP subsidiary involved in phosphate-based fertilizer production and marketing. Under the plan submitted to the Competition Council, Koch would acquire half of the company’s share capital and the associated voting rights.

The acquisition would be carried out through KAES Phosphate Holdings, LLC, a company controlled by Koch, Inc. and incorporated under the laws of the US state of Delaware.

If the transaction is completed, ownership of Jorf Fertilizers Company I would be divided equally between OCP Nutricrops and the American investor. This would replace the existing arrangement, under which the Moroccan phosphate group exercises exclusive control, with a structure requiring both shareholders to share control over the company.

The change would bring a new international partner into an established part of Morocco’s phosphate-processing sector without removing OCP from the company’s ownership structure. However, the details of the future governance arrangements, including how decisions on production, investment and commercial strategy would be taken, have not been made public.

Jorf Fertilizers Company I is a Moroccan public limited company registered with the Casablanca Commercial Court. Its operations are linked to the Jorf Lasfar industrial complex in El Jadida province, one of the main locations for OCP’s phosphate-processing and fertilizer activities.

Three industrial units underpin the proposed investment

The target company operates three main industrial units specializing in phosphoric acid processing, phosphate fertilizer manufacturing and sulphuric acid production. These activities form part of the industrial chain through which phosphate rock is transformed into products used in agricultural fertilizers and other industrial applications.

Phosphoric acid is a key intermediate in the manufacture of many phosphate fertilizers. Sulphuric acid is also used in phosphate processing, making the production of these chemicals closely connected to the wider fertilizer manufacturing process.

By acquiring a stake in a company with existing facilities, Koch would enter the Moroccan market through an established industrial platform rather than developing a new operation from the ground up. The investment would provide a route into activities associated with phosphate processing and fertilizer production, although the extent of any future expansion or changes to the company’s operations has not been announced.

For OCP, the proposed arrangement would preserve a 50% interest in the target company while bringing in a partner with a broad international industrial presence. The transaction could provide a framework for cooperation between the two groups, but the public notification does not specify any commitments concerning additional investment, production targets or new capacity.

Koch brings a diversified industrial portfolio

Koch, Inc. is active across a wide range of industrial and commercial fields, including refining, chemicals, metals, fertilizers, industrial technology and commodity trading. Its operations also cover polymers, fibres, glass, electronic components and software.

The group’s activities extend beyond fertilizers, giving it experience across several parts of the industrial supply chain. Its proposed investment in Jorf Fertilizers Company I would add a direct ownership interest in a Moroccan company specializing in phosphate derivatives.

The acquisition is being pursued through KAES Phosphate Holdings, LLC, the entity identified in the notification submitted to the Competition Council. The transaction would give this investment vehicle a 50% stake in the Moroccan company, subject to the regulator’s decision.

The available information does not establish whether Koch intends to use the investment to introduce new technologies, increase production, expand exports or pursue other commercial objectives. Such developments would depend on the arrangements agreed between the shareholders and any subsequent investment decisions.

OCP retains a central role in the ownership structure

OCP Group occupies a major position in Morocco’s phosphate sector, with activities spanning phosphate rock extraction, chemical processing, fertilizer manufacturing and international sales. Its operations connect the country’s phosphate reserves with markets supplying agricultural nutrients to farmers worldwide.

The group has developed an extensive processing base in Morocco, including facilities at Jorf Lasfar. Its activities encompass the production of phosphoric acid and phosphate-based fertilizers, products that serve agricultural markets with differing soil conditions and nutrient requirements.

OCP Nutricrops, the subsidiary that currently owns Jorf Fertilizers Company I, contributes to the group’s fertilizer production and commercial activities. The proposed transaction would therefore introduce an external shareholder into one of these operations while leaving the wider OCP group involved through its existing subsidiary.

The equal ownership structure would differ from a conventional acquisition in which the buyer takes full control and the previous owner exits. In this case, OCP would remain directly involved in the target company’s ownership, although its ability to exercise control would change under the proposed joint arrangement.

The precise implications for day-to-day management, capital expenditure and commercial decisions will depend on the governance structure established between the two shareholders. No detailed agreement on these matters has been disclosed in the information made public by the regulator.

Competition review remains the next step

The Competition Council has opened the process for interested parties to submit observations on the proposed economic concentration. The October 19, 2026, deadline gives relevant parties an opportunity to raise concerns or provide information that may assist the regulator in assessing the transaction.

The review will focus, among other considerations, on the implications of moving from exclusive control by OCP to joint control by two shareholders. The council must examine the proposed change within the framework of Morocco’s competition rules before determining whether the operation can proceed.

The transaction’s value, financing arrangements and any detailed commercial commitments remain undisclosed. The public information is limited to the identity of the parties, the intended acquisition of a 50% stake and the nature of the target company’s industrial activities.

Potential implications for Morocco’s fertilizer sector

The proposed investment comes within a sector where access to phosphate resources, processing capacity and international distribution networks are important elements of commercial activity. Morocco’s established phosphate base provides the raw material for a wide range of fertilizer products, while industrial facilities convert these resources into products used in agricultural production.

Koch’s planned entry would create a shared ownership structure between a major American industrial group and Morocco’s leading phosphate producer. The arrangement could provide a basis for cooperation in existing production activities, but its actual commercial effects cannot yet be assessed because the parties have not publicly outlined specific expansion plans or investment commitments.

For Morocco, the immediate development is a proposed change in the ownership of an operating fertilizer company rather than the announcement of a new production complex. Any effects on output, employment, exports or future industrial investment would depend on decisions made after the transaction, if approved.

The Competition Council’s assessment will determine whether the acquisition can move forward under the country’s regulatory framework. Until approval is granted and the transaction is completed, OCP Nutricrops remains the sole owner of Jorf Fertilizers Company I, and the proposed partnership with Koch remains subject to the outcome of the review.