Marsa Maroc to invest in Djibouti's Damerjog petroleum terminal: decree

Morocco's top port operator Marsa Maroc will invest an undisclosed sum in Damerjog Oil FZE, which is planning to build an oil and gas port on Djibouti's Gulf of Aden coast, according to a Moroccan government decree seen on Monday.

Marsa Maroc has created a subsidiary, Marsa Maroc International Logistics, which will run a special offshoot called Marsa Djibouti to oversee the Damerjog investment, according to the decree.

Marsa Maroc did not immediately respond to Reuters' e-mailed request for comment.

The investment aims to boost Marsa Maroc's presence in east Africa's logistical supply chains, according to the decree.

Marsa Maroc International Logistics, which was established to manage the company's African expansion plans, has also created Marsa Benin to operate terminals 1 and 5 at the port of Cotonou in Benin, the decree said.

In June, Marsa Maroc won a deal to operate a container terminal in Morocco's Nador West Med port with a capacity of more than 3-million 20-foot equivalent units.

Casablanca-listed Marsa Maroc manages nine ports across Morocco including Tanger Med 1 and Casablanca.