Spain boosts the internationalisation of its companies with a key railway project in Morocco

High-speed trains at a railway station

The Spanish Ministry of Economy, Trade and Business and the Moroccan Ministry of Economy and Finance have signed a financial protocol that covers the signing of a loan to finance the purchase of 40 intercity trains to transform the Moroccan railway system by Spanish companies, for an amount of more than 750 million euros. This funding will be provided through the Corporate Internationalization Fund (FIEM).

This financing has been implemented through the signing of a credit agreement between the Official Spanish Credit Institute (ICO), on behalf of the Government of Spain, and the ONCF (Moroccan National Railway Office) on the Moroccan side. This credit is sovereign guaranteed by the Kingdom of Morocco, through its Ministry of Economy and Finance.

The trains will be supplied by the Spanish company CAF, one of the world's leading train manufacturers, which with this contract wins its first project in Morocco. CAF will thus supply intercity trains with the highest performance and comfort levels, and prepared to operate at a speed of 200 km/h, connecting the main cities of Morocco.

The project has a significant impact on CAF's Spanish factory because it is expected to create 1000 direct jobs in Spain for the project per year and an estimated 3000 indirect jobs per year, and will support the emerging railway ecosystem in Morocco.

The project will be implemented by the Moroccan National Railway Office (ONCF). This project will contribute significantly to the improvement of the sustainable transport infrastructure in Morocco and the connectivity of its railway network, with the experience and international leadership of the Spanish company.

This award reinforces the solid economic and business relationship between the two countries and consolidates Spain's position as a strategic partner in the development of pioneering and sustainable infrastructures.

As part of the strategy to boost business internationalisation, the Secretary of State for Trade recently travelled to Morocco to hold meetings with Moroccan authorities and participate in a forum on opportunities for Spanish companies in infrastructures linked to the 2030 World Cup.

Spain-Morocco bilateral economic relations

Spanish companies are well positioned in Morocco in areas such as energy, infrastructure, auxiliary car and manufacturing industry, banking and technology. Currently, there are more than 350 Spanish companies installed in Morocco, which generate employment and are a great contribution to the Moroccan economy.

Spain is Morocco's largest trading partner, with a bilateral trade volume of more than 22.5 billion euros per year. In 2024, Spanish exports to Morocco grew by nearly 6%, and is one of the destinations to which our exports have increased the most.

Moreover, Morocco is the leading destination for Spanish investment in Africa, with an investment stock of close to €2 billion and the creation of 27,655 jobs.

Non official translation