{"id":82923,"date":"2024-12-09T00:00:00","date_gmt":"2024-12-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/09\/moroccos-oncf-seeks-usd-8-8-bn-for-rail-expansion-project\/"},"modified":"2024-12-09T00:00:00","modified_gmt":"2024-12-09T00:00:00","slug":"moroccos-oncf-seeks-usd-8-8-bn-for-rail-expansion-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/09\/moroccos-oncf-seeks-usd-8-8-bn-for-rail-expansion-project\/","title":{"rendered":"Morocco\u2019s ONCF seeks USD 8.8 bn for rail expansion project"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Morocco\u2019s National Railways Office (ONCF) is seeking USD 8.8 bn in <\/strong><strong>investments for its rail expansion plan<\/strong>, head of the African Development Bank (AfDB) Akinwumi Adesina told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/moroccan-rail-operator-seeks-88-bln-funding-expansion-plan-2024-12-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> on Friday after a three-day Africa Investment Forum in Rabat. The project reportedly obtained over USD 13 bn worth of financial commitments from investors, and the bank could secure over USD 29.2 bn for African development projects across several sectors, including transport, infrastructure, water supply, and energy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expansions and additions: <\/strong>ONCF rolled out a MAD 9.78 bn (c. USD 988.3 mn) railway development investment plan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/703b7756-36fe-41dd-b855-5e9311e9f8a2\" style=\"\" rel=\"noopener\">back in October<\/a> for 2025-2027, which includes extending the high-speed rail line (LGV) from Kenitra to Marrakech as well as establish a regional express network (RER) for Casablanca, Rabat, and Marrakech. This is different from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/51dad6bc-2b7a-4805-9588-63e6593c756c\/today:-pmi-reports-are-in-for-uae,-ksa,-and-egypt-%2B-lots-of-diplo-updates-from-the-uae\" style=\"\" rel=\"noopener\">Morocco\u2019s Railway Strategy 2040<\/a>, which is a comprehensive long-term plan for the development of the national railway network, expected to cost MAD 87 bn (c. USD 8.5 bn). ONCF also aims to expand its network to serve 43 \u2014 or 87% \u2014 of Morocco by 2040, the newswire added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morocco\u2019s been making moves: <\/strong>ONCF awarded a contract <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/8b59228e-5404-4438-83b7-c5b39627aa28\/heaps-of-updates-from-bahrain,-uae,-ksa,-morocco,-kuwait,-and-egypt\" style=\"\" rel=\"noopener\">back in November<\/a> to a consortium of Spanish engineering firm Ineco and Morocco\u2019s CID to carry out the preliminary project for the railway service between the Moroccan cities of Oued Zem and Beni Mella, as well as <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">China Overseas Engineering Corporation (Covec), which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/8b59228e-5404-4438-83b7-c5b39627aa28\/heaps-of-updates-from-bahrain,-uae,-ksa,-morocco,-kuwait,-and-egypt\" style=\"\" rel=\"noopener\">inked a MAD 1.34 bn<\/a> (c. USD 133.9 mn) contract for the high-speed line (LGV) from Kenitra to Marrakech. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">IN OTHER FINANCING NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morocco\u2019s Nador West Port gets a financing boost:<\/strong> AfDB inked a EUR 129 mn agreement with Morocco to boost industrial activity at Morocco\u2019s Nador West Med Port Business Park Development Project, <a target=\"_blank\" href=\"https:\/\/www.mapnews.ma\/ar\/actualites\/%D8%A5%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/%D8%A7%D9%84%D9%85%D8%BA%D8%B1%D8%A8%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%A5%D9%81%D8%B1%D9%8A%D9%82%D9%8A-%D9%84%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%AA%D9%88%D9%82%D9%8A%D8%B9-%D8%AB%D9%84%D8%A7%D8%AB-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A7%D8%AA-%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-3447-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D9%8A%D9%88%D8%B1%D9%88\" style=\"\" rel=\"noopener\">MAP<\/a> reported last week. The agreement aims to support the development of economic zones as well as industrial and logistical facilities at the port. The funds are part of three funding agreements between Morocco and the AfDB worth EUR 344.7 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on the cards:<\/strong> The African bank is also pouring EUR 650 mn to support Morocco\u2019s 2030 World Cup preparations \u2014 which includes financing the development of the country\u2019s railway and airport infrastructure, <a target=\"_blank\" href=\"https:\/\/www.moroccoworldnews.com\/2024\/12\/366809\/morocco-strengthens-cooperation-with-afdb-through-multi-million-funding-agreements\" style=\"\" rel=\"noopener\">Morocco World News<\/a> reported on Friday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AfDB and Morocco of history:<\/strong> Morocco's Banque Centrale Populaire (BCP) and AfDB inked a USD 70 mn risk-sharing agreement (RSA) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/0e281b05-2533-4209-96e7-e377b3346c4c\/morocco%25e2%2580%2599s-bcp-%2B%253cmark%253e-afdb%253c%2Fmark%253e-ink-trade-financing-agreement\" style=\"\" rel=\"noopener\">back in May<\/a> to boost trade across the continent and expand private sector financing. AfDB also offered Morocco\u2019s Bank of Africa (BOA Group) USD 78.3 mn (EUR 70 mn) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/62e6c5a6-4e4c-470c-abf1-9cf06a5832f1\/trade-and-digitization-updates-from-the-uae-and-morocco\" style=\"\" rel=\"noopener\">back in October<\/a>, which is expected to catalyze almost EUR 300 mn worth of trade over 3.5 years. The trade finance facility includes a Risk Participation Agreement (RPA) worth EUR 50 mn and a Trade Finance Line of Credit (TFLOC) amounting to EUR 20 mn. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project reportedly mulled over USD 13 bn worth of investments<\/p>\n","protected":false},"author":1,"featured_media":82924,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[45],"tags":[44,150,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-investment-watch","tag-morocco","tag-trade","wpautop","entry"],"acf":{"mongo_id":"cf3fffd4-ed78-4169-a6c4-9e89cdfae811","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1213.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Morocco\u2019s ONCF seeks USD 8.8 bn for rail expansion project","related_issue":[82918],"teaser":"The project reportedly mulled over USD 13 bn worth of investments","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.bdba00e0-93b0-49db-b2ef-a41c3310597f.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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