فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
Nizar Baraka, Minister of Equipment and Water, revealed on Tuesday that a set of measures aimed at controlling the high indebtedness of Morocco’s National Company of Motorways (CNRM) are being studied.
Baraka explained that these measures come within the framework of the new program contract with the company, pointing to the possibility of reviewing the performance pricing as one of the proposed solutions to achieve financial balance for the company.
In a presentation to the Infrastructure Committee of the House of Representatives, in response to the recommendations of the interim exploratory mission on the company, Baraka said that the company, in cooperation with government agencies, is studying innovative financing methods to finance its future investments while maintaining its financial balance. He also added that the idea of linking the percentage of capital contribution to the level of traffic on future highway segments is being studied.
The minister said: “The economic model for investing in motorways is based on long-term profitability, as the cost of investment far exceeds revenues in the short and medium term,” he said, noting the need to find radical solutions to the company’s heavy indebtedness.
As for the current financial situation, Baraka pointed out that the company’s annual deficit amounts to Dh1 billion, a deficit resulting from the decrease in traffic on more than 500 kilometers of the network, stressing that this deficit will continue until 2033.
In the context of the measures taken to address this deficit, the minister highlighted the strengthening of the company’s own assets and the improvement of the debt ratio from 4 to 1.5. All concession contracts were merged into one 99-year contract, which helped ensure the necessary financial returns for the company.
Baraka also touched on the restructuring of the company’s debt, which took place between 2016 and 2020, totaling Dh15.5 billion, equivalent to 40% of the total debt, enabling a reduction in debt service by about Dh5 billion between 2016 and 2032.
Regarding investments in highway infrastructure, Baraka said that the total investments amounted to 55 billion dirhams, with 80% of these investments being financed by international financiers and 20% by the company’s own capital.
These measures come in the context of the government’s ongoing efforts to improve the financial performance of the National Highway Company and ensure the sustainability of its future infrastructure investments, while maintaining the safety and sustainability of Morocco’s motorway network.
Source : Fes News Media
