Southern Korea seeks USD3.62B rail deal with Morocco
(MENAFN) South Korea is actively pursuing a significant deal worth USD3.62 billion with Morocco to export railway trains, marking a potential shift away from French dominance in Morocco's railway projects, which have historically been tied to lucrative concessions since the country's independence. Korean officials are intensifying efforts to enhance the prospects of Korean companies securing the contract for a substantial project involving 904 railway cars, including high-speed and semi-high-speed trains.
According to reports from the Moroccan newspaper "Akhbarona," this project holds strategic importance for Morocco as it aims to bolster its railway network and upgrade transportation infrastructure ahead of hosting the 2030 FIFA World Cup. The competition for the contract is fierce, with Korean firms vying against established global competitors such as Spanish and French companies, renowned for their expertise in manufacturing high-speed trains. Additionally, China's state-owned railway industry giant presents competitive pricing offers, further intensifying the competition.
In light of these dynamics, the Korean government is actively engaging in diplomatic efforts to bolster the chances of Korean companies clinching this pivotal contract. This includes strategic engagements and high-level discussions, as exemplified by the recent visit of South Korea’s Minister of Land, Infrastructure and Transport, Park Sang-woo, who met with Morocco’s Minister of Transport, Mohamed Abdeljalil, and Mohamed Rabie Khlie, the director general of the National Railways Office.
Observers believe that Korean companies stand a strong chance of securing the contract due to their commitment to providing advanced technologies and competitive proposals that align with Morocco's evolving transportation needs. The growing cooperation between Morocco and South Korea across various sectors underscores the dynamic nature of their bilateral relations, signaling potential for deeper collaboration in the realm of railway development.
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