Morocco’s Highway Authority Secures €75 Million Loan for Major Expansion Projects

In this report, Autoroutes du Maroc (ADM) reviewed the various achievements, figures and challenges that marked this year. Thus, during the year 2019, ADM signed a concessional loan agreement with the European Investment Bank (EIB) for an amount of 75 million euros, or nearly 810 MDH, for the financing of the widening to 2x3 lanes of the ring roads of Casablanca and Casablanca-Berrechid. ADM also signed 52 agreements with international donors, and used in particular self-financing generated by the operation of bond issues and donor financing, reports Les Eco.

ADM recorded for the 3rd consecutive year, a positive net result exceeding 101.3 MDH. At the end of December 2019, the company’s turnover reached 3.30 BMDH, an increase of 6% compared to the previous year. Current operating expenses are up 2% compared to 2018, the document indicates.

Furthermore, among the programs implemented for the nearby communities and Moroccan R&D, is the J (young talents) program carried out in collaboration with the Ministry of National Education since 2008, the rehabilitation of more than 325 schools bordering the highway, the launch of two research projects with the Hassan II Agronomy and Veterinary Institute and the Hassania School of Public Works in 2019. Not to mention the start of the large-scale deployment phase of the Al Ard project and many other achievements reported in the document published by ADM.

For the CEO of ADM, Anouar Benazzouz, "the national motorway network has experienced a tremendous development momentum over the past two decades, going from 400 km to 1800 km, an increase of more than 80% of the linear". In addition, "motorway traffic in 2019 experienced a growth of nearly 5%, well beyond GDP growth," he added. The CEO said he was "confident" in Morocco’s future, despite the current health context.