Morocco has unveiled a strategic storage investment program worth 6 billion dirhams (approximately $600 million) to be implemented by 2030. The initiative aims to bolster the country's reserves of essential goods, including petroleum products and food commodities, to enhance national security against supply disruptions.
The program, announced by the Ministry of Economy and Finance, involves the construction of new storage facilities and the modernization of existing ones. It is part of a broader effort to align with international standards for strategic reserves, particularly for hydrocarbons, where Morocco currently holds less than 30 days of consumption.
Key components include expanding storage capacity for crude oil and refined products, as well as silos for cereals and other staple foods. The investment will be financed through a mix of public funds and public-private partnerships, with completion targeted by 2030.
This initiative responds to lessons learned from global supply chain vulnerabilities exposed during the COVID-19 pandemic and recent geopolitical tensions. By increasing storage capacity, Morocco aims to mitigate price volatility and ensure continuous supply during crises.
The program is expected to create jobs during construction and operation phases, while strengthening the country's resilience to external shocks. Detailed feasibility studies and timelines for specific projects are to be released in the coming months.
