Morocco Archives - Gambeta News

HIGH-SPEED RAIL PROJECT CONNECTING MOROCCO AND SPAIN SET TO KICK-OFF

Posted on April 18, 2024 by Gambeta News

Morocco to Spain high-speed rail plans through the the Strait of Gibraltar has taken significant strive as the new proposed plan is expected to connect Spain’s capital straight to Casablanca, Morocco’s financial capital. According to Spanish media, instead of linking traditional hubs, the revised plans will aim to connect the Spanish capital directly to Morocco’s economic powerhouse in Casablanca with the proposed travel time for this project set at approximately five and a half hours. …

WHY MOROCCO WANT TO CUT ENERGY DEPENDENCE FROM SPAIN

Posted on April 10, 2024 by Gambeta News

Morocco government is making plans to cut ties with Spain over its energy dependence. This move has seen the nation unveil ambitious plans regasification plants and pipelines. According to reports, the decision was made after Algeria close the Maghreb-Europe gas pipeline in October 2021, these has made Morocco to act swiftly aimed energy shortage in the near future. Morocco initially relied on Spain’s assistance way back in 2022 to help mitigate the crisis as the…

HOW RAINFALL IS HELPING THE MOROCCO DAM RESERVE INCREASE

Posted on March 14, 2024 by Gambeta News

As of March 13, reserves in dams in the Souss-Massa region of southern Morocco exceeded 101,261 million cubic meters, or 13.7% of the total storage capacity. According to a report published today on the situation of the dams by the Souss-Massa Hydraulic Basin Agency (ABHSM), the filling rate of the Youssef Ibn Tachfin dam stood at 36,567 million cubic meters, or 12.3%, while the reserves of the Aoulouz dam amounted to 10,427 million cubic meters,…

HOW MOROCCO EMERGE AS EUROPE’S GATEWAY TO AFRICA’S ECONOMIC GROWTH

Posted on February 22, 2024 by Gambeta News

As global supply chains face ongoing disruptions, European companies are rethinking their sourcing strategies. According to Maersk, a recent whitepaper revealed that over 64% of European firms have changed how they source materials to deal with supply chain instability. Beyond shortening supply chains, companies want more flexibility and less reliance on single sources. In this context, Morocco has emerged as an alternative sourcing location for 4% of European companies. Located on the periphery of Europe,…

HOW MOROCCO WATER SCARITY DROP TO 23% AMID DAM DROUGHT

Posted on February 5, 2024 by Gambeta News

Several national dams are experiencing severe water stress, edging perilously close to an imminent drought. Amidst the ongoing water crisis plaguing the country, Moroccan dams are grappling with a continuous decline in water levels, recording a mere 23% filling rate at the end of the week across all national dams. The low rate marks a drop from the 31% record a year earlier, according to data from the Ministry of Equipment and Water reported by…

ADB SIGN €100MILLION DEAL TO HELP AFRICAN ECONOMIES

Posted on January 31, 2024 by Gambeta News

The African Development Bank (ADB) and the European subsidiary of Attijariwafa – Attijariwafa Bank Europe – signed a €100 million risk-sharing agreement on Thursday, aiming to enhance the competitiveness of African economies. Risk-sharing agreements will incentivize the Attijariwafa Bank Group to issue more loans for clients that are usually considered subprime, as the ADB has agreed to step in to mitigate the financial loss caused by these customers defaulting on loan payments. The signing ceremony…

HOW LACK OF WATER AFFECTED MOROCCO AGRICULTURAL INDUSTRY IN 2023

Posted on January 5, 2024 by Gambeta News

Morocco’s agriculture sector continued to suffer from water deficit at the end of 2023, with recent data indicating that the sector’s added value to the economy slowed to 5.2% year-on-year in the fourth quarter of 2023, down from 6.9% year-on-year in the first quarter. According to a report from the Higher Commission for Planning (HCP), the drop in added value of Morocco’s agriculture is mainly due to the persistent water deficit and adverse weather conditions…

MOROCCO HIGHWAY COMPANY ADVISE CITIZEN TO AVIOD FEZ-OUJDA HIGHWAY AFTER WEATHER ALERTS

Posted on October 23, 2023 by Gambeta News

Morocco’s Highway Company has called on citizens to exercise vigilance, urging users of the Fez-Oujda highway to avoid traveling and take necessary precautions should they do so. The decision came amid a series of weather alerts, forecasting strong wind and dust storms in several regions, including Taourirt. The company called on citizens to contact the phone number 5050 for more information on traffic conditions as well as to check its road traffic application. On Sunday,…

WIND ENERGY: HOW MOROCCO IS AT THE FOREFRONT FOR ITS REVOLUTION

Posted on October 10, 2023 by Gambeta News

Across Africa, the deployment of wind energy projects has generated approximately 12,400 direct jobs, both during and after construction Wind energy is emerging as a powerful force in Africa, with Morocco at the forefront of the renewable energy revolution. Alongside South Africa and Egypt, Morocco is leading the continent’s charge into wind energy, paving the way for a green energy transition that is creating jobs and reducing carbon footprints, according to a new report from…

MOROCCO GOVT. PLEDGE RECONSTRUCTION PROGRAM AIMED EARTHQUAKE AFTERMATH

Posted on September 13, 2023 by Gambeta News

In the emotionally charged wake of the horrendous earthquake that hit central Morocco this past Friday, a ministerial committee held a meeting today in Rabat to address the urgent need for reconstructing damaged homes in the affected regions. Chaired by Prime Minister Aziz Akhannouch, the committee worked on formulating a comprehensive plan to reconstruct demolished homes and provide compensation for individuals who lost their homes. The exact details of the plan will be released in…

MOROCCO LAUNCHED US$52M VEGETABLE OIL PLANT

Posted on August 30, 2023 by Gambeta News

Morocco has launched a one-of-a-kind vegetable oil production plant in theindustrial park of El Marsa in the province of Laâyoune, the southern region of the country. At a total investment of 190 million dirhams (US$52 million), the plant was inaugurated by El Moussaoui, the project’s investor on August 20, on the sidelines of the celebrations of the 70th anniversary of the Revolution of the King and the people. Built on an area of 19,000 m2,…

MOROCCO WATER SCARCITY: HOW ROSATOM PARTNERSHIP CAN HELP THE NATION

Posted on August 2, 2023 by Gambeta News

Russian nuclear energy giant Rosatom, and Moroccan company Water & Energy Solutions, joined forces to address the pressing issue of water scarcity. The agreement was formalized during the second Africa-Russia Economic Summit, which took place in Saint Petersburg on July 27-28. The accord, in the form of a memorandum of understanding, aims to foster collaboration in desalination, water conditioning, and purification projects. Kirill Komarov, the Deputy Director-General for Development and International Affairs of the State…

BOUJDOUR WIND FARM BECOMES OPERATIONAL IN MOROCCO

Posted on July 27, 2023 by Gambeta News

Located in Morocco’s Southern provinces, the Boujdour wind farm is officially operational, according to a statement from the National Office of Electricity and Drinking Water (ONEE). With the opening of the Boujdour wind farm, Morocco’s southern provinces are now home to 8 wind energy projects, with 17 on the national level. In the statement, ONEE explains that the country has activated the largest Boujdour II transformation station, operating at a capacity of 400/225 thousand Volt. The…

BRISTISH INVESTORS EYE DAKHLA’s RENEWABLE ENERGY POTENTIAL

Posted on July 20, 2023 by Gambeta News

A delegation of British investors are setting their sights on Dakhla’s abundant renewable energy potential as they embark on a two-day visit to the southern Moroccan region of Dakhla-Oued Eddahab to explore investment opportunities. Led by Brannan Tempest, the CEO of Oblin Group, which specializes in the engineering and construction of solar photovoltaic and wind power systems, the delegation’s visit aims to gather information on key development projects in the region and the progress being…

FERTILIZER GIANT OCP TO HELP IMPROVE MOROCCO WATER MANAGEMENT SYSTEM

Posted on July 10, 2023 by Gambeta News

Moroccan fertilizer giant OCP has renewed its determination to continue boosting Morocco’s sustainable development through the signing of a new memorandum of understanding as well as a concession contract with the country’s government in a bid to help improve its water management efforts. Morocco’s government and the OCP group signed on Wednesday the agreements, under which the two will cooperate to improve drinking water by desalinating seawater for the Safi and El Jadida regions. The agreements form…

DUTCH PRIME MINISTER SET TO PARTNER WITH MOROCCO FOR GREEN HYDROGEN PROJECT

Posted on June 20, 2023 by Gambeta News

The Dutch Prime Minister Mark Rutte is set to visit Morocco on June 21 to explore avenues of cooperation on green hydrogen and reinforce economic cooperation between the two countries. The Head of the Moroccan government Aziz Akhannouch will receive Rutte in Rabat upon his arrival, indicated the Dutch government in a statement. The pair will discuss various topics, including migration, regional security, and multilateral cooperation. The Dutch PM will then participate in a prominent gathering…

MOROCCO AND ISRAEL SIGNED DEAL TO BOOST TRANSPORTATION SECTOR

Posted on May 30, 2023May 30, 2023 by Gambeta News

Morocco and Israel signed on Monday three agreements to boost bilateral cooperation in the sector of transportation, including maritime transport. The accords cover different aspects of the transport sector, including maritime transport, reciprocal recognition of driving licenses, as well as road safety. Moroccan Minister of Transport Mohamed Abdeljalil signed the agreements with his Israeli counterpart Miri Regev, who was heading a large delegation during a visit to Morocco that sought to cement bilateral cooperation as…

MOROCCO GOVT. APPROVED US$7.6BILLION FUND FOR CONSTRUCTION OF 17 PROJECTS

Posted on May 25, 2023May 25, 2023 by Gambeta News

Morocco’s National Investment Commission on Wednesday announced it approved 17 projects with a combined budget of MAD 76.7 billion ($7.6 billion). In a meeting chaired by Head of Government Aziz Akhannouch, the investment commission also approved four amendments to existing agreements. According to a statement, the projects hold “immense economic potential,” with a projected investment of MAD 76.7 billion. The projects are expected to generate 5,728 direct job opportunities and create an additional 14,707 indirect…

MOROCCO AND SOUND ENERGY AGREED DEAL FOR LNG PROJECT

Posted on May 8, 2023 by Gambeta News

British energy firm Sound Energy announced that its micro-liquefied natural gas (LNG) project at the Tendrara production concession in Morocco will generate its first revenues in early 2024, marking a major milestone for the company. The London-listed company issued a press release unveiling its audited final results for 2022, emphasizing that phase 1 LNG delivery is planned to start in 2024. The energy company noted that the main civil work—the LNG tank foundations— was completed and tested…

SOUTH KOREA FIRM OPEN NEW INDUSTRIAL PLANT IN MOROCCO

Posted on May 5, 2023 by Gambeta News

Morocco continues to attract international actors in the automotive industry, with South Korean manufacturer SJM Flex opening a new industrial plant in Tanger Automotive City on Thursday. Officials from SJM and the Tanger Med Group attended the inauguration of the plant, which covers an area of 4,800 square meters. The plant is set to hire 250 people and increase the rate of local integration. SJM Flex has invested MAD 90 million ($9 million) in the…

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