French company Lydec announced that it aspires to a new partnership with Morocco, as its current one is due to expire in 2027.
Lydec said in its press release Saturday, that its contract with Morocco will expire in 2027, and it aspires to renew the partnership in the distribution of water, electricity, wastewater collection, rainwater, and public lighting.
Lydec’s press release came as a response to the Ministry of Interior’s tendency not to renew contracts with delegated management companies, as it is preparing to create multi-service regional companies (SRM) in all twelve regions to take over the tasks of sewage management as well as water and electricity distribution.
It is expected that SRMs will be launched starting January 2022, which means that contracts with subsidiaries such as Redal and Lydec won’t be renewed.
The company’s press release stated that starting next year, it will restore all water and electricity distribution services, with the aim of attracting 400,000 new customers for electricity services and 100,000 new customers for water services, representing about 30% of the additional activity.
Lydec clarified that this additional activity will contribute to achieving parity of services run by the company, and create synergies in a geographical area experiencing strong urban growth.
The company considered that the creation of multi-service regional companies will give it the opportunity to share its expertise, within a partnership that is determined in line with the new directions of the Kingdom and the will of the competent authorities.
The country has signed its first contract with Lydec in 1997 for a period of thirty years, which concerned the Casablanca region for the benefit of about 4.2 million residents.
Since 2005, Lydec has been listed on the Casablanca Stock Exchange, whereby 51% of its capital is owned by the French company “Suez”, along with 16% for the Deposit and Management Fund Group, 16.4% by Royal Moroccan Insurance, and the rest is distributed in the stock exchange.
Morocco have to look forward to his own interest ,
and cooperated with countries that knowledge Sahara Moroccan.