“Shanghai Zhenhua Heavy Industries Group,” a leading global provider of port and industrial equipment, has entered a major contract with Morocco’s phosphate giant “OCP Group” on Monday, the agreement involves the supply of a bulk handling system for the Port of Safi, valued at USD 200 million (MAD 2 billion).
Delivery of the equipment is scheduled within 30 months of the date that the contract comes into effect.
Shanghai Zhenhua emphasized the strategic importance of this agreement, stating it aligns with the company’s ongoing efforts to enhance its competitiveness in the global market. While the financial benefits are expected to positively impact the company’s future performance, final figures remain subject to annual audits.
The company also highlighted potential risks to the contract, such as regulatory changes, market fluctuations, or force majeure events, urging investors to exercise caution regarding potential disruptions.
This contract represents a significant milestone in the growing partnership between China and Morocco, reinforcing the strategic roles of both nations in their respective sectors. According to a source familiar with the deal, the agreement underscores the mutual benefits of Sino-Moroccan cooperation, with Morocco further solidifying its position as a global leader in phosphate production and export.
As both countries continue to deepen economic collaboration, this deal is expected to pave the way for more bilateral projects in the future.