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Rabat– The National Office of Railways (ONCF) has reported significant growth in its operations, highlighting that its trains transported 41 million passengers and generated MAD 3.5 billion (USD 340 million) in revenue by the end of September 2024.
This marked a 15% increase compared to the same period last year, and the positive trend was driven by the continued growth in passenger traffic and the recovery of the freight and phosphate transport sectors.
Passenger services saw a notable contribution of MAD 2.09 billion (USD 204 million), reflecting a 9% increase. The Al Boraq high-speed train played a key role in this performance. It transported 4.1 million passengers during the period covered by the ONCF report, a 7% rise from the previous year. In terms of revenue, Al Boraq generated MAD 528 million (USD 52 million), marking a 12% increase.
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The freight and phosphate segments of ONCF’s operations also demonstrated impressive growth, with revenue rising by 25% to reach MAD 1.30 billion (USD 127 million). Phosphate-related revenue increased by 34%, further boosting ONCF’s performance in this area.
As part of its commitment to modernizing and enhancing rail services, ONCF has invested MAD 1.23 billion (USD 120 million) in safety and infrastructure upgrades. The company has also successfully reduced its net debt to MAD 43.2 billion (USD 4.3 billion), demonstrating strong financial management.
Looking ahead, ONCF’s efforts to develop the rail sector continue, with the recent announcement of a new train manufacturing plant in Morocco. Transport and Logistics Minister Abdessamad Kayouh revealed that the plant will not only supply the National Railways Office (ONCF) but also serve as a hub for rail exports to other African countries.
This project is part of a broader initiative involving an MAD 87 billion (USD 8.5 billion) investment to expand Morocco’s high-speed rail network (TGV) and upgrade existing lines.
Furthermore, ONCF has outlined a MAD 9.78 billion (USD 939 million) investment plan for the 2025-2027 period.
According to the public establishments and enterprises (EEP) report that accompanies the 2025 draft Finance Bill, this investment will focus on acquiring new rolling stock, building maintenance workshops, and maintaining rail infrastructure. The plan allocates MAD 2.97 billion (USD 290 million) for 2025, MAD 3.64 billion (USD 355 million) for 2026, and MAD 3.17 billion (USD 310 million) for 2027.
