October 16, 2019 / 6:52 AM / a month ago

National Express to double Morocco presence with Casablanca bus contract

(Reuters) - British transport firm National Express Group Plc (NEX.L) said on Wednesday it won a 15-year bus contract in Casablanca through its unit ALSA, which is expected to fetch more than 1 billion euros ($1.11 billion) in revenue over its term.

National Express, already the largest bus operator in Morocco, said the contract will double its presence in the country.

“As in other Moroccan cities, there is opportunity for further growth in other local Casablanca transport markets, such as school buses and tourist services,’ the company said.

The contract will start next month with an initial 400 buses, which will increase to 700 next year and is expected to carry 100 million passengers annually.

The contract is expected to make a small contribution to this year’s and next year’s earnings due to its late start in the year and start-up costs.

Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shounak Dasgupta

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