Marsa Maroc: 4 Billion Dirhams to Boost the Ports of Casablanca and Jorf Lasfar

Marsa Maroc, the third largest company on the Casablanca Stock Exchange with a valuation exceeding 70 billion dirhams, is establishing itself as a growth stock supported by solid fundamentals. The announcement of this investment program marks a significant shift ahead of the commissioning of Nador West Med, scheduled for 2027, which will serve as a major growth driver for the group. Of the 4 billion dirhams allocated, 3.2 billion will be dedicated to enhancing container traffic at the Casablanca port. Planned projects include extending the docks, reorganizing storage areas, and converting the East Terminal to RTG mode. The stated goal is to streamline operations, increase throughput, and reduce processing times. Additionally, 850 million dirhams will be invested in bulk activities at Casablanca and Jorf Lasfar, focusing on the extension and deepening of docks, as well as modernizing storage zones. Management emphasizes the aim to significantly reduce waiting times in the harbor and the duration of stays at the dock, while providing clients—shipowners, shippers, and logistics providers—with more competitive service quality. The expected impacts are substantial. In Casablanca, the capacity of multipurpose terminals will increase from 7.5 to 10 million tons per year, while container capacity will rise from 1.3 to 2.2 million TEUs, representing a gain of 900,000 TEUs. At Jorf Lasfar, the capacity of the multipurpose terminal will grow from 3 to 4.5 million tons. The implementation timeline is already underway. The deepening of a 530-meter dock in Casablanca is set to be completed by Q2 2028, while the extension of Terminal 3 (adding 80 meters and 300,000 additional TEUs) will be operational by 2027. The transformation of the East Terminal will continue until 2030. This gradual ramp-up is designed to enhance capacity without disrupting current operational rhythms. In parallel with this national plan, Marsa Maroc has made significant strides internationally with its first establishment in Benin. This project, welcomed by investors, allows the group to showcase its expertise in port management and support the development of a port poised to become one of the most competitive in West Africa. The company is also actively exploring opportunities in Africa, believing the continent represents a natural growth avenue. While no additional projects have been officially announced, Marsa Maroc retains the flexibility to accelerate its internationalization. This development strategy is backed by robust financial results. In the first half of 2025, Marsa Maroc reported a 14.5% increase in revenue to 2.84 billion dirhams, accompanied by strong cash generation. These performances provide the group with the capacity to finance its projects while solidifying its status as a key player in the Moroccan port sector.