ŕ‹‹‹—»‹‹Ū

Kingdom of Morocco

Nador West Med Port

Loan No.:

622

Interest Rate:

3.0 %

Beneficiary:

Nador West Med Company

Grace Period:

6 years

Project Cost:

KD 314.1 million

Maturity:

22 years

Amount of Loan:

KD 60.0 million

Repayment:

33 semi-annual installments

Date of Loan Agreement:

30/11/2015

First Installment:

6 years following the first disbursement

Date of Effectiveness:

--


Objectives:

The project aims at developing maritime transport services in the Kingdom of Morocco and meeting the increasing demand for these services. The project also aims at contributing to the economic and social development in Morocco, particularly the north-eastern regions.

Description:

The project, which is expected to be completed in the first quarter of 2020, includes the execution of the necessary infrastructure works for the port, and the ancillary works required for its operation, in addition to the consultancy services required during the project's execution phase. The project also includes the execution of all superstructure works and the provision of the equipment required for the operation of the different port berths. The port will have a total capacity of 3 million TEU, 25 million tons of hydrocarbons, 3 million tons of various types of bulk cargos, and 7 million tons of coal. The project components can be summarized as follows:

  1. Infrastructure Works:
    1. Dredging and Backfilling: This includes dredging of the port basin and the approach channel to a depth of about 20 m, and in front of the port berths to a depth ranging between 16 and 18 m. It also includes backfilling works required for land reclamation behind the berths to be used as storage areas.
    2. Main Breakwater: This breakwater has a length of about 4200 m, and protects the northern and western sides of the port.
    3. Secondary Breakwater: This breakwater has a length of about 1200 m, and protects the eastern side of the port.
    4. Container Berth: This berth is located on the eastern side of the port. It has a length of about 1520 m, and is divided into 4 docks with a length of about 380 m each.
    5. Various Cargo and Coal Berth: This berth is located on the western side of the port. It has a length of about 600 m, and is equally divided into two parts, one for various cargo handling and the other for coal handling.
    6. Hydrocarbons Berths: There are 3 of them, and they are attached to the main breakwater.
    7. Service and Ro-Ro Berth: This berth is located on the southern side of the port. It has a length of about 380 m, of which 50 m will be used for receiving Ro-Ro ships, and the remaining length will be used for the port services.
  2. Ancillary Works: This comprises the execution of works required for port operation, such as service buildings, utility networks, navigational aids, and other ancillary works.
  3. Consultancy Services: This comprises consultancy services required for project execution, which include review of studies, design and execution plans, as well as project supervision and quality control.
  4. Superstructures and Equipment: This includes the completion of the container and cargo storage areas, and the provision of the equipment required for the operation of the different port berths.

Financing:

The Arab Fundís loan covers about 19% of the total project cost. It is expected that the African Development Bank will contribute to the financing of the project with a loan equivalent to about KD 34 million (about 11%), and the European Bank for Reconstruction and Development with a loan equivalent to about KD 68 million (about 22%). The company and the Moroccan Government will cover the remaining cost of the project and any additional cost that may arise.


Copyright © 2008-2022 AFESD All Rights Reserved.