Morocco Invests 8 Billion Dirhams in Major Highway Expansion Projects

This three-year program provides for the realization of the Tit Mellil-Berrechid motorway and the Rabat-Casablanca continental and should reach more than 8.4 billion dirhams over three years, i.e. 1.6 billion in 2024, 3 billion in 2025 and 3.7 billion in 2026, indicates the report on EEPs, announcing the upcoming implementation of a program contract aimed at providing visibility on the financing model for motorway investments, as well as on the restructuring actions of ADM (tariff revisions, debt restructuring and clearance of the VAT credit). At the end of 2022, ADM’s outstanding debt stood at more than 39 billion dirhams, an increase of 196 million dirhams compared to 2021, it is recalled.

Investments should reach 843 million dirhams at the end of 2023, i.e. a budget execution rate of 89%, the document points out, noting that ADM’s turnover should exceed 3.8 billion dirhams in 2024 and 2025 and reach more than 3.9 billion in 2026. The company’s turnover should stand at more than 3.5 billion dirhams at the end of 2023, up 5% compared to 2022 and a net result of 480 million dirhams. In 2022, ADM had posted a deficit of 669 million dirhams due to reversals of financial provisions.