Rabat – Morocco’s state-owned financial institution, the Caisse de Depot et de Gestion (CDG), and the National Office of Railways (ONCF) are partnering to boost collaboration across various sectors.
The agreement was signed on Friday by CDG’s General Director, Khalid Safir, and ONCF’s General Director, Mohamed Rabie Khlie, and outlines the framework for collaboration.
Under this strategic partnership, both CDG and ONCF will collaborate on initiatives that cover financial advisory and structuring, territorial planning, as well as real estate management, renewable energies, and energy efficiency.
In an official statement, ONCF said that this partnership represents a “pivotal moment in its ongoing development strategy, aligning with the organization’s efforts to promote sustainable and accessible mobility.”
The agreement comes on the heels of significant transformations undertaken by ONCF over the past two decades, aiming to address strategic, economic, and environmental challenges while meeting future demands, the statement explains.
Meanwhile, the partnership with ONCF underscores CDG’s commitment to supporting national strategic projects with substantial economic and social impacts.
By leveraging its technical and financial expertise through various subsidiaries, CDG aims to provide sustainable support to its partners, helping them structure development projects and secure necessary financing, the statement adds.
In recent months, ONCF announced significant investments to boost railway connectivity.
Morocco’s National Office of Railways pledged in November of 2023 to invest MAD 16 billion ($1.56 billion) as part of the implementation of its “development plan.”
Under the plan, the office launched a tender for the acquisition of 168 trains, including 150 for urban transport services, covering high-speed commuter trains and intercity trains.
The news comes at a time when Morocco is preparing to host the 2030 World Cup in a joint bid with Spain and Portugal.
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