{"id":78127,"date":"2023-06-21T01:00:58","date_gmt":"2023-06-21T01:00:58","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/"},"modified":"2023-06-21T01:00:58","modified_gmt":"2023-06-21T01:00:58","slug":"today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/","title":{"rendered":"TODAY: Morocco\u2019s OCP is earmarking USD 7 bn for a green ammonia plant"},"content":{"rendered":"<p><strong>Good morning, friends. <\/strong>We have a light, brisk issue for you this morning as we inch closer to the weekend.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>Moroccan state-owned fertilizer and phosphate giant OCP Group plans to invest USD 7 bn in an ammonia plant using green hydrogen produced from renewable energy.<\/p>\n<p><strong>^^ <\/strong><strong>We have the details on this story and more in the news well, below.<\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- There\u2019s no single climate story<\/strong><strong> dominating international headlines this morning<\/strong>, but EU countries\u2019 environment ministers have reached an agreement on the landmark nature law after weeks of fierce political pushback, <a href=\"https:\/\/www.reuters.com\/world\/europe\/countries-seek-deal-weakened-eu-nature-law-2023-06-20\/\">Reuters<\/a> reports. The ministers backed the bill after introducing tweaks and reaching consensus over additional EU funding to restore damaged environments. One of the changes is replacing a clause requiring that the condition of certain habitats not be worsened, with a goal to \u201cendeavor to put in place necessary measures\u201d to avoid declining conditions. Another one would undermine targets to bring back drained peatlands upon the request of countries like Ireland, where peat is used as fuel and dried bogs are harvested. The EU parliament\u2019s majority group, the European People\u2019s Party (EPP), has been leading a campaign against the law in the past few weeks, arguing that the proposal be scrapped on grounds that it would undermine food security. The final bill should still be approved by EU countries and the European Parliament.<\/p>\n<p class='web-image'><img data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1373.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>The Enterprise Finance Forum is our flagship gathering \u2014 the one so many of you have <\/strong><strong>been waiting for. <\/strong>The two-day event takes place this September and will be the latest in our must-attend series of invitation-only, C-suite-level gatherings. Stay tuned for more information on the location.<\/p>\n<p><strong>TAP OR CLICK <\/strong><strong><a href=\"https:\/\/finance.enterprise.news\/\">HERE<\/a><\/strong><strong> if you want to express interest in attending. <\/strong>We\u2019ll be sending out the first batch of invitations just after the 30 June holiday.<\/p>\n<p><strong>Do you want to become a commercial partner? <\/strong>Please click <a href=\"https:\/\/finance.enterprise.news\/sponsor.html\">here<\/a>.<\/p>\n<p><strong>STAY TUNED for more detail <\/strong>about our exciting agenda in the weeks to come.<\/p>\n<hr class=\"grey-line\">\n<p><strong>ENTERPRISE IS LOOKING FOR SMART,<\/strong><strong> TALENTED PEOPLE of all backgrounds to help us build some very cool new things.<\/strong> Enterprise \u2014 the essential morning read on all the important news shaping business and the economy in Egypt and the region \u2014 is looking for writers, reporters and editors to help us build out new publications. Today, we run four daily Egypt and MENA-focused publications, five weekly industry verticals, and a weekend lifestyle edition designed to make our readers feel just a bit smarter.<\/p>\n<p><strong>We have tons more in the pipeline \u2014 come help us build new publications.<\/strong> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of >250k daily readers by telling stories that matter.<\/p>\n<p><strong>Journalists looking to explore business, finance and economic stories are welcome. So are recent journalism school graduates.<\/strong><\/p>\n<p><strong>That said, we're looking for gifted story-tellers from all walks of life and across all professions<\/strong>, as long as they show a keen interest in learning to write about the stories, topics, businesses, and figures moving markets. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/p>\n<p><strong>NEVER WORKED IN A NEWSROOM BEFORE?<\/strong> We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.<\/p>\n<p><strong>During the program you will learn:<\/strong><\/p>\n<ul>\n<li>The key news stories and trends shaping business and the economy in Egypt and the region, across various sectors;<\/li>\n<li>Business and finance for non-finance people: Whether it's industry jargon or key concepts or simply how to read a balance sheet;<\/li>\n<li>How to construct an Enterprise story: From idea formulation down to the structure, style and tone of writing;<\/li>\n<li>How to develop sources that will give you the key insights needed to tell a complete story;<\/li>\n<li>How to communicate these stories with the confidence and language of an insider.<\/li>\n<\/ul>\n<p><strong>Not an internship program \u2014 a career:<\/strong> The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists, while also working on and filing stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.<\/p>\n<p><strong>Apply directly to jobs@enterprisemea.com and mention \u201cwriting development program\u201d<\/strong> in your subject line.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #1- Oman\u2019s state-owned Hydrom is expected to ink a number <\/strong><strong>of new contracts for green hydrogen blocks today<\/strong>, <a href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/hydrom-to-ink-pacts-for-new-green-hydrogen-projects-in-oman-sd4zj3iq\">Zawya<\/a> reports. Hydrom <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f55f6918-4f7c-49d1-912f-122079557fdb\">signed three agreements<\/a> earlier this month granting the first three blocks of land for planned green hydrogen plants worth USD 20 bn as part of its Phase A Round 1 public auction process. One of the agreements included the USD 6.7 bn <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f13d49f5-621e-4fc7-84f9-c254d8a9b06f\">awarded<\/a> to a consortium led by South Korea\u2019s steelmaking company Posco Group.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>WATCH THIS SPACE #2- We\u2019re hearing some movement on Acme\u2019s <\/strong><strong>green hydrogen plant in the SCZone: <\/strong>A group consisting of Egypt\u2019s Suez Canal Economic Zone (SCZone), Orascom, and El Sewedy met with India\u2019s <a href=\"https:\/\/www.acme.in\/\">Acme Group<\/a> in New Delhi where they agreed to begin construction soon on a USD 12 bn green hydrogen plant in the SCZone, according to a <a href=\"https:\/\/sczone.eg\/ar\/%D8%AE%D9%84%D8%A7%D9%84-%D8%AC%D9%88%D9%84%D8%A9-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%82%D9%86%D8%A7%D8%A9-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%B3-%D8%A8%D8%A7%D9%84%D9%87%D9%86%D8%AF\/\">statement<\/a>. The plant \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ab5ebab-55a1-4a68-97a3-0f02e5b4e147\">announced back in August 2022<\/a> \u2014 will span 4.5 mn sqm and have an expected initial annual production capacity of 100k tons during the first phase. The plant\u2019s generational capacity will increase to 2.1 mn tons of green hydrogen when fully operational.<\/p>\n<p><strong>ALSO- India\u2019s <\/strong><strong><a href=\"https:\/\/www.jindalsteelpower.com\/\">Jindal Steel Power<\/a><\/strong><strong> is exploring the potential of setting up a green steel <\/strong><strong>production plant in the SCZone<\/strong>, according to the <a href=\"https:\/\/tinyurl.com\/3kkbn325\">statement<\/a>. The 5-7 mn sqm steel manufacturing industrial complex would have an annual production capacity of 5 mn tons geared towards export to African and European markets.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #3- UN adopts world\u2019s first international marine conservation <\/strong><strong>treaty: <\/strong>After over 15 years of talks and five UN-led negotiations, the UN adopted on Monday the High Seas Treaty, the world\u2019s first agreement to protect biodiversity in international waters, <a href=\"https:\/\/www.reuters.com\/world\/un-adopts-worlds-first-treaty-protect-high-seas-biodiversity-2023-06-19\/\">Reuters<\/a> reports. The agreement, which will be available for signature starting 20 September, will come into effect only after it is ratified by 60 countries, the newswire notes.<\/p>\n<p><strong>REMEMBER- <\/strong>Over 100 countries <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1999f7a3-9f3b-4811-915f-b7aaa48b900b\">struck the landmark agreement<\/a> back in March, agreeing to protect at least 30% of international waters by 2030. The UN High Seas Treaty reportedly took over 36 hours of negotiations before being hammered out. The treaty provides a framework for the establishment and management of marine protected regions and sets out environmental requirements for deep sea exploration, building on the <a href=\"https:\/\/www.imo.org\/en\/ourwork\/legal\/pages\/unitednationsconventiononthelawofthesea.aspx#:~:text=The%20United%20Nations%20Convention%20on,the%20oceans%20and%20their%20resources.\">UN\u2019s Law of the Sea<\/a> convention. 11 mn sqkm of ocean would need to be protected annually between now and 2030 to realize the treaty\u2019s target, according to <a href=\"https:\/\/www.greenpeace.org.uk\/news\/un-ocean-treaty-talks-collapse-as-the-ocean-crisis-deepens\/\">Greenpeace<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #4- Malaysia's MISC Group to develop first <\/strong><strong>ammonia-powered engine for deep sea vessels: <\/strong>Malaysian logistics company MISC Group has signed an agreement to develop the world\u2019s first ammonia engines for deep sea ships, <a href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/malaysias-misc-group-develop-ammonia-engines-ships-2023-06-20\/\">Reuters<\/a> reports, citing a company statement. MISC-owned AET and Akademi Laut Malaysia (ALAM) signed the agreement with Switzerland-based diesel and low-gas engine manufacturer Winterthur Gas & Diesel (WinGD). ALAM, which says the new engines will help decarbonize the global shipping industry, also signed an agreement with shipping classification society and maritime industry advisor DNV to upskill workers in the maritime sector on low carbon and net zero technologies, according to the newswire.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<\/p>\n<p><strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday by 5am Cairo \/ 5am Riyadh \/ 6am UAE.<\/p>\n<p><strong>EXPLORE MORE OF ENTERPRISE ON THE WEB \u2014<\/strong> <a href=\"http:\/\/www.enterprise.news\">tap or click here<\/a> to read EnterpriseAM, EnterprisePM, and The Weekend Edition on our powerful new website packed with reader-friendly features.<\/p>\n<p>Were you forwarded this email? <strong>Get your own <\/strong><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">subscription without charge here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<br \/>\n <strong>***<\/strong><\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>France will host <\/strong><strong><a href=\"https:\/\/nouveaupactefinancier.org\/en.php\">The Summit for a New Global Financial Pact<\/a><\/strong><strong>tomorrow and Friday <\/strong>in Paris. The two-day summit will bring together heads of states and heads of multilateral development banks, international organizations, the private sector and international NGOs to shape a new finance \u201ctoolbox\u201d and \u201cpave the way towards a more balanced financial partnership between the north and south.\u201d It will also see new agreements in a bid to relieve debt distress and allow countries to access additional financing to invest in sustainable development and slash emissions.<\/p>\n<p><strong>Thailand will host the <\/strong><strong><a href=\"https:\/\/unfccc.int\/event\/LD_wksp2\">second workshop on addressing loss and damage<\/a><\/strong><strong> from 15-16 July<\/strong> in Bangkok. The workshop will see discussions on pathways to increasing funding for climate-induced loss and damage. The workshop is being held in preparation for the <a href=\"https:\/\/unfccc.int\/event\/tc3\">third meeting of the COP27 Transitional Committee<\/a> in August. The committee is tasked with operationalizing the Loss and Damage Fund, to be approved during the fourth transitional meeting in <a href=\"https:\/\/ent.news\/2023\/4\/1066.pdf\">October<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events and news triggers.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, friends. We have a light, brisk issue for you this morning as we inch closer to the weekend. THE BIG CLIMATE STORY- Moroccan state-owned fertilizer and phosphate giant OCP Group plans to invest USD 7 bn in an ammonia plant using green hydrogen produced from renewable energy. ^^ We have the details on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":78128,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44],"tags":[40,11,39,92,43],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-egypt","tag-enterpriseclimate","tag-green-hydrogen","tag-oman","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"4bce1e01-8a75-41ab-bfee-c923731bb5a3","order":"0","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2021\/8\/253.jpg","photo_position":"above","related_issue":[78125],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TODAY: Morocco\u2019s OCP is earmarking USD 7 bn for a green ammonia plant - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: Morocco\u2019s OCP is earmarking USD 7 bn for a green ammonia plant\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. We have a light, brisk issue for you this morning as we inch closer to the weekend. 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We have a light, brisk issue for you this morning as we inch closer to the weekend. THE BIG CLIMATE STORY- Moroccan state-owned fertilizer and phosphate giant OCP Group plans to invest USD 7 bn in an ammonia plant using green hydrogen produced from renewable energy. ^^ We have the details on [&hellip;]","og_url":"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/","og_site_name":"Climate","article_published_time":"2023-06-21T01:00:58+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/253.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"TODAY: Morocco\u2019s OCP is earmarking USD 7 bn for a green ammonia plant","datePublished":"2023-06-21T01:00:58+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/"},"wordCount":1581,"publisher":{"@id":"https:\/\/enterpriseam.com\/climate\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/253.jpg?fit=%2C&ssl=1","keywords":["Egypt","EnterpriseClimate","green hydrogen","Oman","WHAT WE\u2019RE TRACKING TODAY"],"articleSection":["WHAT WE\u2019RE TRACKING TODAY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/","url":"https:\/\/enterpriseam.com\/climate\/2023\/06\/21\/today-moroccos-ocp-is-earmarking-usd-7-bn-for-a-green-ammonia-plant\/","name":"TODAY: Morocco\u2019s OCP is earmarking USD 7 bn for a green ammonia plant - 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