early 100 million passengers are expected in 2030 on the ONCF network, for revenue of around 10 billion dirhams and an operating margin above 5 billion, according to the report on public establishments and enterprises attached to the 2027 finance bill. The new development cycle mobilizes 96 billion dirhams: 53 for the extension of the Kenitra-Marrakech high-speed line, about 430 km long and under construction since April 2025, and its equipment, 29 for the purchase of 168 new-generation trains and 14 to maintain performance, of which 8 support the high-speed line and the RER and 6 the existing network.
The fleet will comprise 18 high-speed trains, 40 intercity trains and 110 RER and TNR sets, and the contracts provide for the development of RER train manufacturing capacity in Morocco. The Casablanca program, launched in September 2025, adds the Casa-Sud multimodal station and new stations at Mohammed V airport and the future Grand Stade Hassan II. The starting point is still loss-making: at the end of June 2026, revenue was 2.48 billion dirhams (+2 percent) for a net loss of 716 million, and the Office expects to close the year above 5.28 billion in revenue and a 652 million loss. The report projects 6.05 billion in 2027 and 7.05 billion in 2029, with 29.02 billion of investment as early as 2027. If this trajectory holds, the Office will have almost doubled its annual revenue by 2030.
Photo: إيان, CC BY-SA 4.0.
Ministère de l’Économie et des Finances - Rapport sur les Établissements et Entreprises Publics, projet de loi de finances 2027
