The authorities in the economic capital decided to withdraw the works fund from the French company “Ledec”, which is authorized to manage the water and electricity sector, liquid disinfection and public lighting.
It is expected that during the second session of the May session, which will be held next Thursday, a study of the shareholders’ charter and the founding documents of the local development company in charge of managing the works fund, and a vote on that.
The programming of this point comes after the state authorities in the Casablanca-Settat region sent a letter to the city council in order to include this issue in the agenda of the session at its beginning, although it was not included.
The Works Fund, which was in the hands of the French company, is a black box through which infrastructure projects in the water, electricity and liquid purification sectors are financed.
After the approval of the founding documents of this company, it is expected that the works fund will be withdrawn from the Lydec company, whose contract will be nearing its end in 2027, given that it contains an estimated budget of about 150 billion.
The French company has been criticized, by elected officials and actors in Casablanca, for reducing its investments and stockpile of equipment in preparation for its departure from the city, especially in light of talk of its withdrawal from the stock exchange in which it has been listed since 2005, and 51 percent of its capital is owned by the French mother company “Suez”. .
The Foundation for Cooperation between the “White” Groups, which includes the Casablanca community and the neighboring communities, had approved the creation of a local development company to supervise the management of the Works Fund, which is what was understood from it as the beginning of the withdrawal of supervision by the French company.
It is worth noting that the Ministry of the Interior is heading towards not renewing contracts with delegated management companies, as it is preparing to create multi-service regional companies in all regions to take over the tasks of sanitation and the distribution of water and electricity, as a draft law in this context was approved by the Council of Advisors, and it is currently being discussed in the House of Representatives. .