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ONCF Looks for $8.8 Billion Investment to Fund Ambitious Railway Expansion
The Moroccan state-owned railway operator, ONCF, is currently seeking $8.8 billion in funding to realize an extensive expansion plan. This was revealed by Akinwumi Adesina, the President of the African Development Bank (AfDB), during the Africa Investment Forum held in Rabat, Morocco, which concluded late last week. Adesina disclosed that investor interest had already exceeded expectations, with offers surpassing the $13 billion mark, significantly more than the amount ONCF initially requested. This strong investor interest reflects the growing belief in the viability of ONCF’s expansion strategy and its importance in the region’s infrastructure development. The African Development Bank plays a crucial role in financing major infrastructure projects across the continent, partnering with various financial institutions to ensure large-scale development initiatives are successfully funded. Throughout the three-day event, the bank secured financing for African development projects totaling $29.2 billion. These projects cover a wide array of sectors, including water management, energy, transport, infrastructure, pharmaceuticals, tourism, and private equity. ONCF’s expansion plans include a major extension of its high-speed rail system, which is set to connect the city of Marrakech ahead of the 2030 World Cup. The high-speed rail link to Marrakech is expected to drastically reduce travel times and significantly improve Morocco’s connectivity, thereby boosting tourism and business activities. Further south, the network will also extend to Agadir, helping connect even more areas of the country. In addition to these short-term goals, ONCF plans to expand its reach even further by 2040, with the goal of serving 43 cities—about 87% of the Moroccan population. This expansion would greatly enhance mobility, reduce congestion, and promote more sustainable travel options across the nation. The Moroccan government and ONCF are betting heavily on these infrastructural upgrades, with the expectation that the enhanced rail network will not only improve daily commuting for the local population but also position Morocco as a transport hub in the broader African and Mediterranean region. While ONCF has yet to publicly comment on the project, the substantial interest in its financing speaks to the strength of the operator’s future plans. The Moroccan rail operator’s ambition to significantly increase its rail network and capacity shows its long-term commitment to improving the country’s transportation infrastructure and addressing its growing population's mobility needs. The $8.8 billion in funding, though substantial, seems to be well within reach given the strong support from international investors. This will likely help ONCF fulfill its goals of modernizing Morocco’s railway system and creating a more integrated and sustainable transportation network for the future.