Economy & BusinessMorocco will invest more than 7.7 billion dirhams in...

Morocco will invest more than 7.7 billion dirhams in the railway

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The National Railways Office (ONCF) has forecast an investment of more than MAD 7.7 billion during the period 2022-2024.

This investment contained in the report on public establishments and enterprises (EEP) is spread over 2022 with 2.9 billion dirhams, 2023 with 2.22 billion dirhams and 2024 with 2.6 billion dirhams and will be dedicated mainly to the rehabilitation of infrastructure and the renewal of rolling stock, specifies the note published on the website of the Ministry of the Economy and Finance.

This program is part of the implementation of the new contract with the State, currently being finalized, which should lay the foundations for consolidating the ONCF model and define the appropriate financing plan to accelerate the development of the rail sector. in terms of regional planning and strengthening of connectivity between regions and major economic centers of the country.

This comes after the memorandum of understanding signed on July 25, 2019 between the State and the Office, aiming at the modernization of the rail sector, said the same source, adding that at the end of last June, the ONCF achieved a figure of business (turnover) of more than 1.6 billion dirhams for closing forecasts for the year 2021 of 3.34 billion dirhams.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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