Morocco Signs $1.5 Billion Rail Deal with South Korea’s Hyundai Rotem

"The contract recently signed between Hyundai Rotem and the National Railway Office, concerning the delivery of double-decker electric trains, is a new proof of the attractiveness of investment in Morocco," said Chafik Rachadi, Morocco’s ambassador to Korea, to Korea Times, indicating that the supply of these trains by South Korea will contribute to connecting 40 cities and strengthening intercity transport networks, in the perspective of the 2030 World Cup.

The Korean company won the contract against its French and Spanish competitors after a regular tender process, assured the Moroccan diplomat, adding that "the agreement is not limited to the delivery of trains; it also involves a transfer of technology in railway manufacturing and training programs, which ensures that the Moroccan economy will benefit from this project."

This contract with Hyundai Rotem is "a partnership based on the win-win principle, and which paves the way for many other Korean companies to enter the Moroccan market," supported the Moroccan ambassador, stressing that it "will have a significant impact on the volume of trade between the two countries, which reached about $550 million in 2023."

Rabat and Seoul are determined to strengthen their cooperation in the fields of trade, investment, technology and renewable energy, continued Chafik Rachadi, recalling that "the relations between the two countries date back to 1962" and that "the Korea-Africa summit held last year was a major turning point in the evolution of these relations." "Morocco is a land of opportunities and a strategic gateway to Africa that attracts investment," he concluded.