Moroccan Railways’ Net Profits hit 223 Million DH in 2016

Morocco’s state-owned railway operating company (ONCF) posted a net profit of 223 million Dirhams in 2016, up 31% compared to 2015.

The company said in a statement that its turnover over the same period reached 3.7 billion DH with an added value of 2.5 billion DH and a self-sustainability of 273 million DH, 5.8% higher compared to a year earlier.

The ONCF travellers grew by 28 million reaching 40 million over the same year, in addition to the transportation of 28 million tons of goods.

The company has launched during the same year flagship projects, including the construction of new stations and the rehabilitation of existing ones.

Morocco prepares to launch a high-speed train (TGV) in summer 2018. The ONCF has previously announced that almost 90% of works was achieved to build the railway that will halve the journey between Casablanca and Tangier from 4 hours 45 minutes to just over two hours. `