“Morocco’s leading port operator, Marsa Maroc (MSA.CS), will invest an undisclosed amount in Damerjog Oil FZE, a company planning to develop an oil and gas port on Djibouti’s Gulf of Aden coastline,” according to a Moroccan government decree reviewed on Monday, as reported by Reuters.
The same source noted that “Marsa Maroc did not immediately respond to an emailed request for comment from Reuters.”
The decree stated, according to Reuters, that Marsa Maroc has established a subsidiary, Marsa Maroc International Logistics, which will manage the Damerjog investment through a dedicated branch named Marsa Djibouti.
It added that the investment is intended to strengthen Marsa Maroc’s presence in East Africa’s logistical supply chains.
The decree additionally stated that “Marsa Maroc International Logistics, founded to oversee the company’s expansion plans across Africa, has also established Marsa Benin to manage terminals 1 and 5 at the Port of Cotonou in Benin.”
In June 2024, Marsa Maroc secured a contract to operate a container terminal at Morocco’s Nador West Med port, boasting a capacity of over three million twenty-foot equivalent units.
Listed on the Casablanca Stock Exchange, Marsa Maroc manages 9 ports across Morocco, including Tanger Med and Casablanca.
The company is exploring new opportunities for expansion, particularly through public-private partnerships to manage ports in other African countries.
The post Marsa Maroc strengthens its African foothold with investments in Djibouti, Benin appeared first on HESPRESS English – Morocco News.
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