The Covid-19 crisis has in no way undermined the financial balance of the Société Générale des Travaux du Maroc (SGTM). Far from it, as illustrated by its rich order book, in which are aligned a number of strategic projects for the kingdom. Among them, building of one manufacturing plant called to ensure the “vaccination sovereignty” of the country, even of the continent, and which King Mohammed VI particularly follows. Ultimately, the total cost of this megaproject – industrial equipment and R&D included – could reach 500 million euros.
According to our information, the company belonging to the Kabbaj family is preparing to deliver the factory buildings after just five months of work. Ditto for another urgent project: the Rabat campus of the Mohammed VI Polytechnic University (UM6P), an establishment of excellence where the crown prince, Moulay El Hassan, continues his studies. “The SGTM has acquired an expertise that has nothing to envy to certain foreign juggernauts in the construction industry”, comments a connoisseur of the sector. This enabled the group to win another highly strategic contract in 2021, alongside its compatriot Somagec: the construction of the Dakhla Atlantique port, a major project at a total cost of 1 billion euros aimed at boosting the development of the provinces of south of the kingdom.
Morocco: Mohamed Bouzoubaâ and Ahmed Kabbaj, a high-speed duel