Marsa Maroc is expanding its African logistics operations by establishing three new international subsidiaries in Djibouti and Benin. This includes the formation of Marsa Maroc International Logistics to manage these ventures. Notable initiatives include acquiring a stake in a petroleum terminal in Djibouti and operating key terminals at the Port of Cotonou. The company aims to strengthen its presence across West Africa while enhancing terminal capacities domestically, showcasing robust financial growth.
Marsa Maroc, Morocco’s leading port operator, is enhancing its presence in African logistics by establishing three new international subsidiaries following government authorization. The initiative is spearheaded by the creation of Marsa Maroc International Logistics, which is capitalized at MAD 300 million ($30 million) and will manage the company’s international investment projects. This entity will oversee two specialized subsidiaries: Marsa Djibouti and Marsa Benin.
In East Africa, Marsa Djibouti is set to acquire a stake in Damerjog Oil Jetty FZE, which is responsible for developing a petroleum terminal in Djibouti’s free zone. This strategic location is designed to capitalize on logistics flows concerning petroleum products, particularly targeting markets in Ethiopia and Djibouti. Meanwhile, Marsa Benin will be tasked with operating terminals 1 and 5 at the Port of Cotonou under a management contract with Benin Manutentions SA.
Marsa Maroc’s strategic position along the Atlantic coast enhances its access to key West African markets, including Nigeria, Niger, and Burkina Faso. This expansion builds upon its strong domestic presence, managing 25 terminals across 11 Moroccan ports such as Tanger Med 1 and Casablanca. Recent agreements to operate a new container terminal at Nador West Med port, expected to have a capacity exceeding three million twenty-foot equivalent units, further enhance its domestic operations.
The financial outlook of Marsa Maroc is robust, with profits amounting to MAD 852 million ($85.2 million) last year, reflecting a 5% annual increase. To bolster its expansion plans, the company has secured MAD 690 million ($69 million) from the European Bank for Reconstruction and Development for terminal capacity enhancement. Marsa Maroc is 25% state-owned and has a 35% shareholding in Tanger Med Port, which underpins its commitment to expanding across Africa.
The initiation of these new subsidiaries, each capitalized at MAD 300,000 ($30,000), marks a significant advancement in Marsa Maroc’s strategy for continental growth. As stated in Les Inspirations Éco, “From a strategic perspective, the creation of these subsidiaries aligns with Marsa Maroc’s roadmap to become a key player in port infrastructure management and logistics services across the African continent.” This strategic move emphasizes both portfolio diversification and synergies with local partners.
Marsa Maroc’s growth strategy reflects its increasing role within African logistics, as the company actively investigates additional opportunities through public-private partnerships for port management across other nations. Furthermore, its recent partnership aims to modernize ports in Liberia, illustrating its commitment to regional infrastructure development.
In conclusion, Marsa Maroc’s expansion through new subsidiaries in Djibouti and Benin significantly demonstrates its commitment to reinforcing its logistics network in Africa. With a robust financial outlook and a clear strategic vision, the company is poised to enhance its influence in regional and international markets. The establishment of Marsa Maroc International Logistics, along with its specialized subsidiaries, marks a pivotal step toward achieving its ambitious growth objectives.
Original Source: moroccoworldnews.com
