Marrakech – Morocco’s SGTM and TGCC construction giants have secured the contract to build Casablanca’s Mohammed V Airport new terminal in a MAD 12.87 billion ($1.29 billion) project set for completion by 2029.
According to covering reports, the Moroccan consortium emerged as the sole remaining bidder after Turkish competitor Kalyon Insaat was eliminated during administrative and technical evaluation phases. The bid opening took place on Tuesday, following an international tender launched in early November.
The National Airports Office (ONDA) had initially estimated project costs at MAD 12 billion ($1.2 billion), including taxes. The winning consortium’s offer totals MAD 12.876 billion ($1.288 billion), with work scheduled to span 40 months across nine major construction phases.
The new terminal will accommodate 20 million passengers annually, expandable to 30 million capacity across 600,000 square meters. Designed in an “H” configuration with a central processor and two jetties, the facility will connect directly to the Tangier-Marrakech high-speed rail line.
Advanced passenger flow management systems, automated baggage handling, and optimized gate utilization will enhance operational efficiency. The project includes construction of a new runway and control tower, though aeronautical infrastructure and specific equipment will be awarded through separate tenders.
Initial market interest was substantial, with 28 companies submitting expressions of interest in May. Nearly half were Chinese firms, including Sinohydro Corporation and China Civil Engineering Construction.
Spanish, Turkish, Egyptian, French, Indian, Swiss, and Canadian companies also participated. Among Moroccan competitors, only Sogea-Maroc and Jet Contractors joined the SGTM-TGCC groupement in the preliminary phase.
The partnership between SGTM and TGCC will split the contract equally, providing significant order book visibility for both companies. This marks their second major collaboration following the MAD 3.2 billion ($320 million) Benslimane’s Hassan II stadium project.
SGTM’s contract award coincides with the company’s stock market debut on the Casablanca Stock Exchange, adding significance to the announcement timing.
The IPO generated exceptional demand with MAD 171 billion ($17.1 billion) in subscription orders for MAD 4.8 billion ($480 million) offered, representing 34 times oversubscription from 171,377 investors. The construction giant now ranks as Morocco’s 11th largest listed company with MAD 25.2 billion ($2.52 billion) market capitalization.
The terminal forms a cornerstone of Morocco’s “Airports 2030” strategy, positioning Casablanca as a regional aviation hub while supporting the kingdom’s economic and tourism development objectives. Extensions planned for 2040 and 2050 will accommodate future growth demands.
