Mr. Salaheddine MEZOUAR, Minister of Economy and Finance, and Mrs. Amina BENKHADRA, Minister of Energy, Mines, Water and Environment, signed an agreement protocol with the Moroccan Electricity Office, represented by its General Director, Mr. Ali FASSI FIHRI, on February 11th, 2009 at the Prime Minister`s Office.
The agreement protocol outlines the ONE`s institutional operational and financial restructuring project. It defines the reciprocal commitments of both the state and the Office.
The agreement comes at a time when the national electricity market is confronted to new challenges, urging ONE to pursue a policy to satisfy, at the lowest possible cost and the best quality conditions, the growing demand in electricity, thus consolidating its position as the national operator of renown.
Through this agreement, the state will consolidate ONE capital up to MDH 2.3 billion, destined to finance investment projects and to rehabilitate and maintain existing power stations.
Both the state and ONE pledge to conclude a programme contract covering the period 2009-2012, which will define ONE`s commitment to forthcoming investment, financing, rationalisation of spending, technical, economic and financial performance.
This agreement is part of a programme designed to support public enterprises, and is intended to consolidate their financial status, optimise their technical, financial and operational performance as well as improve governance.
Source: DEPP