The forecasts of the investment program of the ONCF group (National Railways Office) for the period 2022-2024 amount to more than MAD7.72 billion, according to the report on public establishments and enterprises accompanying the draft finance law for 2022.
This program, spread over 2022 with MAD2.9 billion, 2023 with MAD2.22 billion, and 2024 with MAD2.6 billion, will be dedicated mainly to the rehabilitation of the infrastructure and the renewal of rolling stock, underlines the report published on the website of the Ministry of Economy and Finance.
A memorandum of understanding, signed on July 25, 2019, between the State and the Office, provides for the implementation of an institutional and organizational restructuring plan aimed at modernizing the rail sector.
The new contract with the State, currently being finalized, should lay the foundations for the consolidation of the ONCF model and define the appropriate financing plan to speed up the development of the railway sector in terms of regional planning and strengthening of connectivity between regions and major economic centers of the country.
The report notes that at the end of last June, ONCF achieved a turnover of more than MAD1.6 billion with closing forecasts for the year 2021 of MAD3.34 billion. Investments made in the first half of 2021 reached MAD687 million, an achievement rate of 25%, while the 2021 closing forecasts are MAD2.71 billion, the source points out.
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