ADM: Board of Directors Approves EIB Financing Contract of Nearly 85 Mln Euros

04 January 2021 Printable Version

Rabat - The board of directors of the Moroccan Company of Highways (ADM), which recently met, approved the financing contract of the European Investment Bank (EIB) of a loan amounting to 85 million euros (the equivalent of 893 Mln MAD).

This financing contract without state guarantee is a first and a great proof of confidence, ADM said in a statement on Monday.

Convened on December 25 under the chairmanship of Abdelkader Amara, Minister of Equipment, Transport, Logistics and Water, the Board of Directors also approved the company's budget for the year 2021.

Among the broad lines of this budget is a turnover of 3.025 million dirhams, with an increase in traffic estimated at +21% compared to 2020, a line of major repairs of 97 km, against 70 km in 2020 and a negative result of -183 Mln MAD.

This budget also banks on an investment of 1.376 Mln MAD, mainly actions postponed from 2020, in addition to the Casablanca-Berrechid trebling and Casablanca bypassing, the improvement of motorway safety and the acceleration of the operation automation plan.