Morocco Infrastructure Report 2013

Publisher Name :
Date: 23-Jan-2013
No. of pages: 65

The Moroccan construction industry is estimated to have experienced real growth of around 7.4% in 2011, with the sector recovering from the period of relatively subdued growth seen in 2009 and 2010. Underpinned by a healthy pipeline of infrastructure projects, multilateral financing and a robust economic growth outlook, we expect the sector to continue on this strong growth trajectory over the medium- to-long-term. We have pencilled in real growth of 7.0% year-on-year (y-o-y) for Morocco's construction industry in 2013 and we expect real industry growth to average at 7.4% per annum between 2013 and 2020.

The infrastructure developments which underpin our outlook for the sector over the forecast period are:

  • Morocco's expenditure on infrastructure will help underpin average real GDP growth of 3.9 %per year in the period 2011-2016, according to BMI's forecasts. The government stepped up its spending on basic infrastructure to MAD400bn (US$47.26bn) for 2008-2012, up from just MAD80bn (US$9.45bn) for the previous period. Roads, ports, airports and transmission grids have been among the assets to benefit from the stronger spending, providing a windfall for established firms.

  • In November 2011, the World Bank agreed to provide US$297mn in financial assistance to Morocco for the development of one of the world's largest solar power plants. The loan will support the first phase of the solar power plant, which is due to have a capacity of 500MW. The Ouarzazate concentrated solar power plant is part of the country's solar power programme, worth US$9bn, and holds significant importance for Morocco. Of the total loan amount, US$200mn will be provided through its fund that lends to middle-income countries, while the remaining US$97mn will be granted under the World Bank Clean Technology Fund.

  • As part of the fund reports it was announced in September 2012 that the African Development Bank (AfDB) will provide a US$800mn loan to the Moroccan government. The loan will be used to finance the development of the country's renewable energy sector. This will include the construction of a solar power plant at Ouarzazate, which will eventually generate 500MW of electricity. Termed as the largest CSP in the world, it is to include an investment of EUR1.04bn (US$1.3bn), which will also be funded by six other agencies, including the World Bank and the European Investment Bank. In addition, the amount provided by AfDB will also be used to increase the country's wind power capacity by 1,070MW and help to provide electricity for 79,436 homes. This will be undertaken as part of the Moroccan Integrated Wind/Hydro and Rural Electrification Programme. The project requires a total investment of US$2.16bn, with completion due for 2017. Morocco intends to generate 42.0% of its electricity from renewable sources by 2020.

  • Also, on September 24 2012, the consortium led by ACWA Power International received a contract worth nearly US$1bn to construct a solar power plant in Morocco. The consortium also includes Aries Ingeniería y Sistemas and TSK Electrónicay Electricidad. The announcement was made by Mustapha Bakkoury, the head of Morocco's solar energy agency MASEN. The plant will cover an area of 2,500 hectares and will be located near the desert frontier town of Ouarzazate. Construction work is due to begin at end-2012, with commercial operations to begin in H215. The plant will have a power generation capacity of 160MW and will use concentrating solar power (CSP) parabolic trough technology. The World Bank, the African Development Bank, the European Investment Bank, KfW and the French Development Agency are to provide financial support for the project.

  • German engineering company Siemens announced that it was holding talks with potential buyers to sell its solar energy business. The company is looking to divest its photovoltaics unit and solar thermal power plant maker Solel. Siemens had acquired Solel in 2009 for US$418mn, but the unit has consistently failed to generate profits. During the same announcement, Siemens said that it will focus its renewable energy activities on wind and hydro power after the divestment. As part of its withdrawal from the solar power sector, Siemens also withdrew from Morocco's DII project in October 2012.

  • In May 2011, Moroccan state power company Office National de l'Electricité (ONE) invited wind turbine companies to submit expressions of interest in building and operating a 150MW wind farm 300km north-east of Rabat. Morocco - the only North African country without significant thermal indigenous resources - has launched a renewable energy drive focusing on wind and solar energy in order to reduce its reliance on costly imports and meet rising demand.

  • In an effort to turn around its near-total reliance on energy imports, Morocco aims to generate as much as two gigawatts (GW) from wind power and 2GW from solar power by 2020, according to Energy, Mines and Water Minister Amina Benkhadra. The country expects to spend EUR13.4bn (US$17.2bn) on the sector and will concentrate on renewable energy production, according to Electricite et des Energies Renouvelables, as quoted by La Figaro in May 2010.

  • In a move that signifies creditor belief in both the company, and the project, Abu Dhabi's TAQA announced in June 2012 that it has secured a US$1.4bn financing arrangement for the expansion of its Jorf Lasfar coal-fired power plant in Morocco. BMI believes that TAQA's continued interest in the MENA region is highlighting a trend where regional players seek to take advantage of their established ties to venture in places that other investors might fear. TAQA is strategically positioned to take advantage of such a move, yet we note that the company remains heavily leveraged and thus much dependent on its benevolent state benefactor.

  • It was announced in March 2011 that the African Development Bank (AfDB) is providing a EUR300mn loan to Morocco to support the investment plans put forward by the country's rail operator. Morocco's national rail company Office National des Chemins de Fer (ONCF) is investing heavily in Morocco's transport infrastructure, with a US$13bn investment plan running to 2035. Plans include the construction of almost 2,000km of major rail lines linking the country's largest cities, in addition to urban rail and high-speed lines.

  • Encouraged by earlier flagship public-private partnership (PPP) projects, the International Finance Corporation (IFC) signed an agreement with the Ministry of Economy and Finance in early-December 2010 to help it structure a dedicated PPP unit. The IFC has been spending considerable resources in Morocco to help wean its construction and infrastructure industries off public sector demand and ramp up private sector participation. Both parties hope that the new unit will successfully institutionalise previously ad hoc PPP projects such as irrigation and desalination projects in the Chtouka region.

  • The government of Saudi Arabia is scheduled to make an investment worth US$1.25bn through the Saudi Fund for Development in order to support several development projects in Morocco. Saudi Arabia's Finance Minister Ibrahim Al-Assaf said in October 2012 that the investment would be made in the areas of health, education, transport, communication, hotels and agriculture. The investment is part of a financial assistance package extended to Morocco and Jordan by four GCC countries, with Morocco set to receive a total of US$5bn. The Saudi private sector is currently making investments in the tourism, agriculture and ports industry in Morocco, which is seen as the best investment destination in the Arab world.

  • Vision 2010 project, established by King Mohammed VI, was an effort of the Moroccan government to develop the country's tourism. The project has been reintroduced as Vision 2020; as part of the programme, two major development plans have been outlined which will create new commercial infrastructure opportunities in terms of resorts and hotels and which will encourage investment and the financing of new sustainable projects. These are the Azure 2020 and the Plan Bidali.

Morocco Infrastructure Report 2013

Table of Contents

BMI Industry View 5
SWOT Analysis 8
Morocco Infrastructure SWOT 8
Market Overview 9
Building Materials 13
Middle East 13
Industry Forecast Scenario 19
Table: Morocco Construction And Infrastructure Industry Data, 2010-2016 19
Table: Morocco Construction And Infrastructure Long-Term Forecasts, 2015-2021 19
Construction and Infrastructure Forecast Scenario 20
Transport Infrastructure 24
Transport Infrastructure Outlook and Overview 24
Table: Major Projects - Transport 27
Energy and Utilities Infrastructure 28
Energy and Utilities Infrastructure Outlook and Overview 28
Major Projects Table - Energy And Utilities 31
Table: Major Projects - Energy And Utilities 31
Residential/Non-Residential Construction and Social Infrastructure 33
Residential/Non-Residential Building Outlook and Overview 33
Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure 35
Table: Major Projects - Residential/ Non- Residential Construction And Social Infrastructure 35
Risk/Reward Ratings 36
Morocco's Risk Reward Ratings 36
Rewards 36
Risks 36
Regional Overview 37
Table: Regional Infrastructure Risk/Reward Ratings 42
Company Monitor 43
Holcim Maroc SA 43
Alstom (Morocco) 45
Global Overview 47
Methodology 54
Industry Forecasts 54
Construction Industry 55
Data Methodology 55
Construction 55
Capital Investment 56
Construction Sector Employment 56
Infrastructure Business Environment Ratings 57
Ratings Overview 57
Table: Infrastructure Business Environment Indicators 58
Project Finance Ratings 59
Table: Design And Construction Phase 60
Table: Commissioning And Operating Phase - Commercial Construction 61
Table: Commissioning And Operating Phase - Energy And Utilities 62
Table: Commissioning And Operating Phase - Transport 63
Sources 64

List of Tables

Table: Morocco Construction And Infrastructure Industry Data, 2010-2016
Table: Morocco Construction And Infrastructure Long-Term Forecasts, 2015-2021
Table: Major Projects - Transport
Table: Major Projects - Energy And Utilities
Table: Major Projects - Residential/ Non- Residential Construction And Social Infrastructure
Table: Regional Infrastructure Risk/Reward Ratings
Table: Infrastructure Business Environment Indicators
Table: Design And Construction Phase
Table: Commissioning And Operating Phase - Commercial Construction
Table: Commissioning And Operating Phase - Energy And Utilities
Table: Commissioning And Operating Phase - Transport

  • Construction sector in Bulgaria 2011
    Published: 30-Sep-2011        Price: US 2100 Onwards        Pages: 93
    Construction sector in Bulgaria 2011, Development forecasts for 2011-2013 is a compilation of the freshest market data and analysis covering a variety of relevant viewpoints and assembled to create a complete guide to potential business creation or expansion in this rebounding industry. In addition to current opportunity, this third edition report assesses the speed of market growth and details specific residential, non-residential and civil engineering projects that will influence the Bulgarian......
  • Construction sector in Russia H2 2011
    Published: 31-Oct-2011        Price: US 2100 Onwards        Pages: 129
    Construction sector in Russia H2 2011 Development forecasts for 2011-2014 Construction sector in Russia H2 2011, Development forecasts for 2011-2014 updates readers on market activity while providing a comprehensive view of Russian construction overall, and of its residential, infrastructure and non residential segments. The report highlights regions within this huge market that present the greatest likelihood for growth, and describes current trends affecting the market and how they will in......
  • Construction sector in Poland, H2 2011
    Published: 31-Oct-2011        Price: US 3500 Onwards        Pages: 205
    Construction sector in Poland, H2 2011 Comparative regional analysis and development forecasts for 2011-2014 Construction sector in Poland, H2 2011, Comparative regional analysis and development forecasts for 2011-2014 keeps businesses informed on current conditions and appraised of market activity projections for the next three years. This comprehensive, up to the minute document also features a regional approach to market analysis and forecasting that is particularly ......
  • Construction sector in Ukraine 2011
    Published: 31-Dec-2011        Price: US 2100 Onwards        Pages: 113
    Construction sector in Ukraine 2012. Development forecasts for 2012-2014 Construction sector Ukraine 2011, Development forecasts for 2011-2014 is the complete source of new data, concise analysis and solid projections based on facts, trends and statistics for professionals with interests in this market. Ukraine's construction industry has experienced massive changes due to the economic crisis and subsequent upturn, and this report chronicles the changes in key indicators, provides a......
  • China cement manufacturing industry, 2012
    Published: 14-Jan-2012        Price: US 4000 Onwards        Pages: 0
    China cement manufacturing industry, 2012 is valuable for anyone who wants to invest in the cement manufacturing industry, to get Chinese investments; to import into China or export from China, to build factories and take advantage of lower costs in China, to partner with one of the key Chinese corporations, to get market shares as China is boosting its domestic needs; to forecast the future of the world economy as China is leading the way; or to compete in the se......
  • China Wood Flooring Industry Report, 2010-2012
    Published: 05-Feb-2012        Price: US 1800 Onwards        Pages: 74
    In 2010, Chinese wood flooring saw increase in both output and sales volume due to the rebound of real estate industry and the implementation of "building materials going to the countryside", with the output growing by 26.7% year on year to 479 million m2 and the sales volume increasing by 9.4% year on year to 398.5 million m2. In 2011, affected by the tightened real estate regulation policy, rising wood price and the USA's ant......
  • Global and China Microfiber Leather Industry Report, 2011-2012
    Published: 16-Feb-2012        Price: US 1700 Onwards        Pages: 67
    As an upgrading product of traditional artificial leather and an alternative to genuine leather, microfiber leather has been in tight supply. From 2004 to 2010, the global output of microfiber leather maintained a CAGR of 8.7%. In 2010, the figure grew 7.6% YoY to 118 million square meters. Along with the new capacity release of major manufacturers, the world's output of microfiber feather is expected to reach 141 million square meters in 2012. Although the growth rate of microfiber leather outp......
  • Construction in India - Key Trends & Opportunities to 2016: Allocation of US$46.6 billion budget towards infrastructure development to fuel growth
    Published: 29-Feb-2012        Price: US 1950 Onwards        Pages: 238
    This report provides detailed market analysis, information and insights into the India construction market, including: The India construction market's growth prospects by sector, project type and type of construction activity Analysis of equipment, material and service costs across each project type within India Critical insight into the impact of industry trends and issues and the risks and opportunities they present to participants in the India construction market Assessment of the compe......
  • Power sector construction in Russia 2012
    Published: 29-Feb-2012        Price: US 2800 Onwards        Pages: 127
    Power sector construction in Russia 2012, Development forecasts for 2012-2014 describes the market for energy in Russia at a time when the country is poised to undergo perhaps the largest and most valuable renovation/expansion ever chronicled. This new PMR report introduces readers to the investors, contractors, and equipment manufacturers playing major roles in the construction of new, high technology power generation plants equipped to handle Russia’s growing ne......
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs