South Korea's HD Hyundai vies for Morocco port
With domestic shipyards operating at full capacity and a backlog of 451 vessels stretching nearly three years, South Korea's largest shipbuilder is turning to Morocco's Atlantic coastline as its next major production base, according to Lloyd's list journal and Morocco's media.
The Casablanca facility - set to become Africa's largest shipyard at 210,000 square metres - is being offered for 30-year operational rights by Morocco's National Ports Agency. The site will include a crane, wharves, and an onshore dock.
Morocco, which currently has just 16 merchant vessels, aims to grow its fleet to 100 ships by 2040 to support trade growth, Sabah Akadir newspaper said.
Morocco's National Port Agency has cited the strategic Atlantic location of Casablanca as well as the strong demand, especially in the ship repair sector.
The initial goal of the facility was to have a capacity to dry dock 22 vessels per year, as well as having cranes to handle 400 to 470 vessels a year at dockside.
The lifting platforms would be able to handle six medium-sized boats up to approximately 5,000 tones.
It estimated an investment of as much as $92 million would be required, with the government agency reporting it had budgeted $76 million for the project.
Morocco has mounted a massive construction and development drive to brace for co-hosting FIFA world cup games in 2030.
Officials said this year that development projects cover ports, airports, roads and other facilities in nearly 35 cities and investments could exceed $34 billion in such projects over the next five years.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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