http://info.afrindex.com
China-Africa Trade Information Service
http://info.afrindex.com
China-Africa Trade Information Service
Image from Moroccoworldnews
The Spanish government has granted a loan of more than €750 million to support this offer, contingent on Morocco’s probable selection of the Spanish train manufacturer CAF in future tenders.
Spanish news outlets reported that the loan was approved on Tuesday by the Council of Ministers. The Spanish government stated that the loan will be obtained via the Fund for the Internationalization of Enterprises (FIEM) in accordance with the OECD’s concessional rules.
The Spanish government stated that the loan will be obtained via the Fund for the Internationalization of Enterprises (FIEM) in accordance with the Organization for Economic Cooperation and Development (OECD) concessional rules.
The financing is directed to Morocco’s National Office of Railways (ONCF) and the Ministry of Economy and Finance to cover the purchase of up to 40 intercity trains, valued at approximately €754 million.
CAF looks to be well positioned for the contract, given ONCF has yet to finalize many critical batches, including intercity trains, suburban high-speed trains (TNR), and regional express network (RER) trains. This bid comes after Morocco rejected Spain’s Talgo, France’s Alstom, and China’s CRRC Zhuzhou Locomotive Co. in the first phase of a 150-train procurement process.
The competition is now between Spain’s CAF and South Korea’s Hyundai Rotem. The full contract consists of 168 trains from several categories, including intercity, suburban high-speed, and regional high-speed networks. It also involves 18 high-speed trains, totaling around €1.8 billion.
In July, Hyundai Rotem CEO Lee Young-bae met with Moroccan Minister of Industry and Trade Ryad Mezzour to discuss plans for a train manufacturing plant in Morocco as well as a potential technology transfer.
French manufacturer Alstom obtained a deal for 18 high-speed trains as part of the ONCF procurement but will not compete for the next three batches. These consist of 40 intercity trains, 60 suburban high-speed trains, and 50 regional express network trains.
Aside from supplying trains, the contract also comes with other restrictions. Winning firms must sign a 20-year maintenance contract and demonstrate a certain degree of local integration in Morocco. ONCF is expected to issue a formal invitation for final bids within a month after finalizing technical specifications.
