Morocco is planning to pump billions of dollars into new green hydrogen and ammonia projects in the next few years as part of an investment drive in renewable energy and related sectors, according to an official report.

Nearly 93 percent of the value of around 591 billion Moroccan dirhams ($60 billion) of the 454 planned projects will cover green hydrogen and ammonia, a report by the Moroccan Economy and Finance Ministry said.

The report, published by the Moroccan Arabic language daily Hespress on Thursday, showed the government has already allocated 1.5 million hectares (3.7 billion square-metres) for such projects in various parts of Morocco.

Key investors in such projects include Taqa Morocco, AP Moller Capital of Denmark, Dahamco Company and Ornx Boujdour of Morocco, and OCP Group, a key Moroccan producer of phosphates, according to the report.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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