The report attached to the 2025 finance bill indicates that the National Railway Office (ONCF) plans an investment program amounting to 9.78 billion dirhams for the 2025-2027 period. This program allocates 2.97 billion dirhams in 2025, 3.64 billion in 2026, and 3.17 billion in 2027, mainly for acquiring new equipment, establishing maintenance units, and upgrading infrastructure.
The report also clarifies that these projections do not include the railway development plan linked to Morocco’s preparations for hosting the 2030 World Cup, which is estimated to cost 87 billion dirhams. Key projects in this plan include a high-speed rail line between Kenitra and Marrakech and the development of regional rapid train networks around Casablanca, Rabat, and Marrakech.
In 2023, ONCF investments exceeded 1.13 billion dirhams, with an additional 811 million dirhams invested in the first half of 2024. Passenger transport also grew significantly, with an increase of 7 million passengers compared to 2022. The « Al Boraq » trains transported 5.2 million passengers in 2023, marking a 25% rise.
ONCF’s revenue in 2023 was more than 4.35 billion dirhams. Projections for 2024 anticipate revenues reaching 4.69 billion dirhams, reflecting an 8% growth. For 2025-2027, ONCF expects revenues of 5.13 billion dirhams in 2025, 5.55 billion in 2026, and 6.05 billion in 2027.
