Morocco’s Railway Expansion Plan Attracts $14 Billion in Investment

The National Railway Office (ONCF) of Morocco aims to raise 88 billion dirhams from investors to finance its railway expansion plan, said Akinwumi Adesina, President of the African Development Bank (AfDB), on the sidelines of the Africa Investment Forum, which was held behind closed doors for three days in Rabat. In the end, the ONCF mobilized 140 billion dirhams.

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The ambition of the ONCF is to extend its high-speed train (TGV) network to Marrakech before the 2030 World Cup, which Morocco will co-host, and then extend it further to Agadir. It also plans to double the number of cities served, reaching 43 localities by 2040, which would represent a coverage of 87% of the national population. This railway expansion plan is part of the national strategy for the modernization of infrastructure.

It should be noted that the AfDB and its partners announced during the Africa Investment Forum that they had mobilized a total of 292 billion dirhams to support various development projects in Africa. These investments target strategic sectors such as energy, water supply, transport infrastructure, tourism, the pharmaceutical industry and private equity.