Morocco revives plan to sell stake in port operator Marsa Maroc

By: | at 08:22 AM | Ports & Terminals  

Morocco’s government launched atender on Thursday seeking advisors for the sale of a minoritystake in state-owned port operator Marsa Maroc via an initialpublic offering on the Casablanca stock exchange.

Marsa Maroc was established in 2006 and manages terminals atnine Moroccan ports and provides logistic services.

The Finance Ministry will open bids on Feb. 2, a statementposted on the Public Procurement website said.

The port operator said it is seeking funds for itsexpansion, as it plans to bid for two other terminals atCasablanca Port, and the second phase of the Port of TangiersTanger Med II.

“We are also seeking African expansion, especially in WestAfrica and Maghreb. Last year we bid for a terminal in AbidjanPort, but our Asian partner quit before the tender’s resultsannouncement,” Fatim-Ezzahra Hrar, Marsa Maroc’s head ofcommunications said.

“Government advisors will assess the company and woulddecide the amount to be offered,” she said.

However, the government launched a tender seeking advisorsfor selling part of Marsa Maroc in 2011 but then dropped theidea without explanation.

The company, which has a staff of more than 2,200 employees,had annual revenues of 2 billion dirhams ($243 million) by 2011,the latest available data.

The Moroccan government is seeking funding to build thesecond phase of the Mediterranean port Tanger Med II. Itreceived a 1.5 billion dirhams loan from the Arab Fund onWednesday, the first part of financing needs for the project.


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