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Moroccan railways ONCF totaled $ 100 million investments in 1999
Morocco, Business, 1/29/2000
L'Office National des Chemins de Fer "ONCF" totaled investments of $ 100 million in 1999, said general manager Mohamed El Alj.
Most of the investment helped finance the completion of the two-way railway between Kenitra and Sidi Kacem, purchase of electric locomotives, rehabilitation of infrastructure and running equipment of ONCF.
El Alj listed results before the meeting of the board saying that in 1999 travelers using trains reached 12.3 millions and phosphates and other goods transported have totaled 27.9 million tons with revenues estimated at $ 172 million, an increase of $ 5.7 million compared to 1998.
He also presented the budget and investment program for 2000 which includes studies and bids for the coupling of railways between Fez and Meknes and procurement of more travel wagons as well as an array of perks and services for the staff such as increase of salaries, social housing, consumer credit and others.
Previous Stories:
ONCF gets 55 million euros financing
(10/29/1999)
French Alstom struck 550 million dh deal with moroccan railway company
(3/10/1999)
Morocco's railway company settles debt, sees activities on the rise
(2/17/1999)
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