Hadj Hamou : 'MEDZ invests a billion dirhams per year'

25 October 2012

Source : lnt.ma

On the occasion of the 10th anniversary of MEDZ, Mr. Abdellatif Hadj Hamou, CEO of the company, kindly drew up for the readers of “La Nouvelle Tribune" the results of CDG Development subsidiary operations and provided some clarifications on the progress of the Integrated Industrial Platforms (P2I), the problem of financing infrastructure projects, and the strategy of MEDZ in the years to come.

La Nouvelle Tribune: MEDZ has just celebrated its 10 years of existence. Can you tell us what MEDZ’s accomplishments during the past 10 years were?

Mr. Abdellatif Hadj Hamou: After 10 years of existence, the results of MEDZ are very positive. First of all, it has grown rapidly from a partnership project (ex MHV), created by the CDG Group to support the tourism vision of 2010 to a Holding of fifteen subsidiaries.

In addition, MEDZ has diversified its portfolio of activities to include industry, logistics and services, namely offshoring. Consequently, MEDZ has carried out many major projects throughout the kingdom in Tourism, Industry and Offshoring. We can cite as examples the parks of Casanearshore in Casablanca and Technopolis in Rabat which contributed to the take-off of the Offshoring business in Morocco. In terms of tourism, the new generation of developed zones such Aguedal, Zahrate Annakhil, Ghandouri and Pinède have contributed in making of Marrakech and Tangier renowned destinations. At the industry level, we can give the example of the integrated industrial platform of the Atlantic Free Zone in Kenitra which is dedicated to the automotive sector, and MidParc in Nouaceur which is dedicated to the aeronautical sector.

Up to date, MEDZ has built 1700 ha of industrial zones, 600 ha of touristic zones and 270 000 m² of office spaces. The overall investment has exceeded 6 billion dirhams with the creation of 60,000 secured jobs out of a total potential of about 200,000.

In addition to its achievements, MEDZ has also developed its internal structure by implementing a modern management system which meets the requirements of its business in terms of efficiency, flexibility and performance.  This system has been ISO 9002 certified since 2008.

These very positive results were made possible through the support of our shareholder CDG Development, our various institutional partners including government departments, local agencies, wilayas, local authorities, and regional investment centers.

 

One of your achievements is the design and development of the Integrated Industrial Platforms (P2I). Can we have a clear idea about the level of progress of the various P2Is?

The  P2I program was launched in 2009 in partnership with the Ministry of Industry, Trade and New Technologies  on the occasion of the signature of the National Pact for Industrial Emergence.

In this context, several P2Is were launched. Some of them are general and others are specialized in a specific sector. Among the thematic platforms created by MEDZ we can cite, for example, the Atlantic Free Zone in Kenitra which is dedicated to the automotive industry, MidParc in Nouaceur which is dedicated to aeronautics, the agropoles of Meknes and Berkane and the Technopole of Oujda with its Cleantech Park dedicated to renewable energies.

In terms of progress, the Technopole of Oujda and the Agropolis of Meknes were delivered in 2011.  The Atlantic Free Zone of Kenitra, the Haliopolis of Agadir and the Agropole of Berkane were delivered in 2012. Finally, the completion of the P2I of Nouaceur is planned for 2013.

We are talking of course about the delivery of the first phases that meet the short term needs in term of industrial spaces. Other phases are scheduled for the coming years.

 

What is the impact of the P2I on the regions and on the Moroccan economy?

The contribution of MEDZ to the territorial development is part of advanced regionalization logic in the sense that it aims to transform each region into a real economic pole that has a well determined sector.

In fact, achieving various sectoral strategies at the territorial level takes into account the particularities of each region and its development potentials. The installed projects come to strengthen the attractiveness of regions and carve out a good position for themselves in their areas of specialty.

For example, the agropoles, which represent a variation of the Morocco Green Plan, are built in irrigated areas with high agricultural potential.

The export free zones dedicated to the automotive and aeronautical sectors take into account the connectivity of these sites with the surrounding infrastructure, logistical factors, export competitiveness, abundance and qualification of human resources, etc.

Similarly, the development of touristic zones takes particularly into consideration the natural strengths of the concerned regions and allows consolidating their attractiveness in terms of equipment, infrastructure, etc.

Generally, and across all its projects, MEDZ aims to create about 200,000 jobs by 2016.

 

Building infrastructures requires significant financial resources. How does MEDZ manage to overcome this issue?

First of all, it should be noted that all the projects carried out by MEDZ are carried out in partnership with central and local institutional stakeholders.

Regarding resources, MEDZ mobilizes its own funds, the financing lines granted by banks, as well as the cash flow generated by the marketing of its projects.

State contribution to these financial arrangements is usually done through balancing subsidies that allow MEDZ to give attractive prices to investors..

 

MEDZ has just got two large loans for a total amount of € 250 million in one week. What is the context of these loans? And what will they be used for?

As a privileged partner of the economic and social development of the country, MEDZ is involved in all of Morocco’s structuring projects in the fields of Offshoring, industry and tourism. The company has maintained a stable growth and reached investments levels in the order of one billion dirhams per year. Of course, this ambitious program needs the use of debt to finance it.

In this context, the BEI and the AFD have agreed to grant MEDZ loans for a total amount of 250 million dirhams to finance our projects. The granting of these loans is a token of confidence in the ability of MEDZ and the CDG Group to carry out structuring projects that accelerate the economic and social development of Morocco.

 

What is the development strategy of MEDZ for the years to come, and what are the projects in which MEDZ will be involved in the future?

In the future, MEDZ will continue its strategy of supporting government policies through the creation of appropriate and competitive infrastructures that are able to accelerate the economic and social development of our country.

As a partner of the State in the implementation of the different sectoral strategies, MEDZ is working continuously to ensure an intelligent balance between its profitability as a private company and the concern for sustainable regional and territorial development.

MEDZ will constantly face many challenges. Its Competitiveness depends largely on its ability to implement a continuous improvement process. This requires the mastery  of 3 major challenges in the future, namely the quality of human resources, innovation and sustainable development.

Interview by Moussa Diop

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