ONCF achieves USD 400Mn turnover in 2007

The State-owned railway company (ONCF) netted a USD 400Mn turnover in 2007, i.e. a 6% increase compared to the previous year, ONCF CEO, Mohamed Rabie Khlie, revealed on Friday.

During a meeting of the ONCF's Board of Directors, Mr. Khlie said that the company carried some 26 million passengers and 36.5 million tons of goods in 2007.

He pointed out that ONCF's investments reached, in 2007, some USD 600 million, thus achieving 65% of the 2005-2009 investment program, which concerns over 30 train stations throughout the kingdom Morocco property and provides for building large host and waiting spaces, introducing modern systems of digital posters and building underground ways to guarantee the passengers' safety, in addition to creating parking places and shops.

Mr. Khlie said some USD530Mn would be allocated in 2008 to electrification works, the strengthening of traffic safety, and the modernization of telecommunications and signaling facilities.