OCP Group Poised to Acquire Luxury Hotel Mamounia in Moroccan Privatization Deal

As the world leader in phosphates and derivatives, the OCP Group would benefit from the reimbursement of VAT by the Moroccan state for some 20 billion dirhams. It should acquire the Mamounia from the National Railways Office (ONCF), reports the Infomediaire website.

For having missed the Slury pipeline contract for the transport of phosphates, the OCP Group is receiving compensation with the Mamounia, a hotel group that also manages Michlifen Resort & Golf and the Palais Jamaï in Fez, as well as the Marchia Lagon Resort.

This contract, once signed, will allow the Moroccan state to achieve its planned privatization objective and, above all, to keep the Mamounia within its fold, without it being sold off to foreign investors.

Last November, Finance and Economy Minister Mohamed Benchaâboun had reassured deputies about the Moroccanness of this prestigious palace. "The Mamounia will remain Moroccan. This condition will be specified in the specifications of this privatization."