Marsa Maroc will invest in the Damerjog petroleum port in Djibouti, according to a decree

The Moroccan government announced on Monday that its leading port operator, Marsa Maroc (MSA.CS), will invest an undisclosed amount in Damerjog Oil FZE, which intends to construct an oil and gas terminal on the Gulf of Aden coast of Djibouti.

According to the decree, Marsa Maroc has established a subsidiary called Marsa Maroc International Logistics, which will manage a unique company named Marsa Djibouti to manage the Damerjog investment.

A request for comment from Reuters via email was not immediately answered by Marsa Maroc.

According to the order, the investment intends to increase Marsa Maroc’s footprint in the logistical supply networks of east Africa.

According to the order, Marsa Maroc International Logistics, which was founded to oversee the business’s intentions for expansion in Africa, has also formed Marsa Benin to run terminals 1 and 5 at the port of Cotonou in Benin.

Marsa Maroc secured an agreement in June to run a container terminal capable of handling over three million twenty-foot equivalent units in Morocco’s Nador West Med port.

Listed in Casablanca Marsa Tanger Med 1 and Casablanca are two of the nine ports that Maroc oversees throughout Morocco.