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Morocco Infrastructure Report 2010Published by: Business Monitor International Published: Jan. 12, 2010 - 60 Pages Table of Contents
AbstractMorocco’s construction industry has survived the global downturn in surprisingly good shape with the sector remaining in positive growth territory for the year. In 2009 year-on-year (y-o-y) growth fell to just 0.78% from 4.75% in 2008, but this still represents strong performance given that a large number of countries in the region were contracting. Total capital investment grew for the year rising to US$28.25bn. This is part of a long-term trend that sees total capital investment more than triple, from US$12.30bn in 2004 to US$38.10bn by 2014.In 2009 Morocco benefitted from investment designed to improve links between Europe and Northern Africa through projects such as the Mediterranean Ring. The ring project aims to transfer power from resource-rich countries (mainly in the Maghreb) to the main consumer base in Europe. External organisations such as the European Investment Bank (EIB) and the Arab Fund for Economic and Social Development both approved substantial funding. Major construction projects continued to be dominated by French and Spanish firms owing to historical ties with the country. A second deep-water port in Tangier valued at US$1.16bn was one major project attracting a consortium of firms including France’s Bouygues Travaux Publics and Italy’s Siapem. As a result of continued investment, Morocco scored well in our project finance ratings compared with other countries in the African region. It scored highest for the design and construction phases because of low inflation and limited currency volatility. In terms of business environment the country also scored well, ranking fourth with a score of 49.5. Overall, the macro picture looks good for Morocco because of its geographical location and existing strong ties to Europe. The demand for cheap reliable energy is also likely to become a significant driver in propelling Moroccan construction as European nations seek to exploit resources in the energy-rich Maghreb region. This may extend to ambitious projects such as the proposed Desertec project to be located in North Africa, which is estimated to cost around EUR400bn. Get Full Details About This Report >> |
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