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Moroccan construction firm TGCC secures $430 million stake in STAM

TGCC (Travaux Généraux de Construction de Casablanca) has signed an agreement to acquire a 60% controlling stake in STAM (Société de Travaux Agricoles Marocains), in a deal valued at MAD 4.3 billion ($430 million). The transaction includes STAM's 55% ownership of VIAS......

H&S Invest Holding expands real estate portfolio with GIDNA partnership

H&S Invest Holding, chaired by Moncef Belkhayat, has taken a significant step in its growth strategy by acquiring a co-controlling 25% stake in GIDNA, a Moroccan company specializing in construction and public works. This move, pending approval from the Competition Council, aims to drive GIDNA’s......

Fatal fire at Busan hotel construction site claims at least six lives

A deadly fire has claimed the lives of at least six individuals at a hotel construction site in Busan, South Korea. The incident occurred Friday morning and quickly escalated. Firefighters, including a team of 90 personnel, responded to the blaze, deploying helicopters to rescue trapped workers, including......

Morocco's construction sector advances sustainable building practices at Boznika conference

The city of Boznika recently hosted a pivotal conference focused on sustainable construction, marking a significant step towards environmentally responsible building practices. In an era where sustainable building has transitioned from option to necessity, LafargeHolcim Morocco, in collaboration with......

Morocco invests $15.46 million to expand mosque infrastructure in 2025

Morocco's Ministry of Endowments and Islamic Affairs has allocated MAD 154.6 million ($15.46 million) for mosque construction in 2025, as part of a comprehensive religious infrastructure development program. Minister Ahmed Toufiq announced the funding will support the completion of 23 ongoing mosque......

Morocco invests MAD 154.6 million in new mosque development for 2025

Morocco's mosque infrastructure is set to expand significantly in 2025, with the Ministry of Endowments and Islamic Affairs allocating MAD 154.6 million for mosque construction projects across the country. Minister Ahmed Toufiq announced that the funding will support the completion of 23 existing......

Fatal explosion in Taroudant tunnel highlights safety concerns in infrastructure projects

A tragic incident unfolded on Sunday in the Ouzioua region of Taroudant province, where four workers lost their lives following an explosion inside a tunnel associated with the "El Mokhtar Soussi" dam elevation project. According to a statement issued by the Tafnout commune on its official......

Morocco’s economy set for strong recovery in 2025 with key growth in agriculture and industry

After a challenging year marked by drought and slowed economic activity, Morocco’s economy is poised for a significant rebound in 2025, according to the latest projections from the High Commission for Planning (HCP). The recovery is expected to be driven by improvements in key sectors such as agriculture,......

Construction Fraud Targets Earthquake Survivors in Morocco's Al Haouz Region

Multiple contractors have defrauded 27 families who received government reconstruction aid following the devastating September 2023 earthquake in Morocco's Al Haouz region, according to the Ministry of Interior. The primary culprit, based in Bouzouk Ait Mellou village, defrauded 18 families in Taghzout......