Over MAD 500m sales for Moroccan highway authority in 2004

The Moroccan Highway Authority (societe nationale des Autoroutes du Maroc -ADM-) achieved a turnover of MAD 562m (Euro 1 = MAD 11.06) in 2004, that is an increase of 14% in comparison to 2003, said Tuesday, ADM Director General.

Othman Fassi Fihri who was presenting the 2004 performance of ADM, ascribed this progression primarily to the rise in highway traffics, which increased by 18% in comparison to last year.

Despite this good performance, the gain of the company registered a MAD 100m deficit (Euro 10m) owing particularly to the high finance charges, and to amortization expenses related to investment.

By 2010, ADM plans to extend the highway network, which accounts today for about 550 km, to reach 1,500 km.

The company is presently carrying out projects to link Fez (center) to Oujda (east); Marrakech (central south) to Agadir (central south-east); Asilah to Tangier and Tetouan to Fnideq (north).