Port authority to invest $ 266.6 million over 2001-2005 period

The Moroccan port authority (ODEP) said Monday it will invest a total of $ 266.6 million (2.8 billion DH) over the 2001-2005 period.

ODEP, which held its administrative board under the chairmanship of equipment minister, Bouamour Taghouane, said half of the amount will go to maintenance and repair works, 45% will be earmarked to develop ports management, and the rest will be used for technical, economic and development prospects studies.

For the past FY, investments reached $ 176 million, most of which went to completing the Dakhla port (southwestern Morocco), and equipping other ports.

ODEP administrative board expects turnover in 2001 to reach $ 185.7 million.

In 2000, port traffic amounted to 55.5 million tons, grewing by 5% compared to the previous year. It is estimated that in 2001, port traffic will reach 60.4 million tons.