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SGTM Secures Major 2.83 Billion Dirham Contract for Fez Stadium Upgrade Ahead of 2030 World Cup
Moroccan construction giant SGTM has won a substantial contract worth 2.83 billion dirhams for the first phase of upgrading the Fez sports complex. The company outbid a competing consortium by nearly 330 million dirhams to secure this prestigious project, which forms part of Morocco's preparations for co-hosting the 2030 FIFA World Cup. The 20-month construction project will encompass comprehensive renovation work including structural elements, waterproofing, metalwork, and finishing touches.
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Morocco's leading construction company SGTM has emerged victorious in the competitive bidding process for the initial phase of the Fez sports complex modernization project, securing a contract valued at 2.83 billion dirhams including taxes.
Winning Bid Details
According to the procurement minutes from the National Agency for Public Equipment (ANEP), whose commission completed its deliberations on October 2, 2026, SGTM submitted the winning proposal. The company was competing against a consortium formed by Entreprise Moussadak Bouchta (EMB) and Inter Tridim for this significant infrastructure project, which had an estimated budget of 2.816 billion dirhams.
SGTM's precise bid came in at 2,825,100,670.80 dirhams (including VAT), offering better value compared to the competing consortium's proposal of 3,151,650,079.80 dirhams—a difference of approximately 326 million dirhams.
Scope of Construction Work
The contract encompasses a comprehensive range of construction activities for the first lot, including demolition work, structural construction, waterproofing systems, steel framework, surface coverings, suspended ceilings, carpentry, and painting work. The project timeline is set at 20 months, aligning with Morocco's ambitious preparations to co-host the 2030 FIFA World Cup.
SGTM's Financial Performance
The construction firm maintains a robust project pipeline, reporting an order book of 34.8 billion dirhams at the end of June 2026, representing a slight decrease from 35.1 billion dirhams recorded at year-end 2025. During the first half of 2026, SGTM posted consolidated revenue of 6.6 billion dirhams, reflecting a 7.2% year-over-year decline. However, the company demonstrated strong profitability with net income rising 7.3% to reach 793 million dirhams, showcasing effective cost management despite the revenue contraction.
This major contract win is expected to bolster SGTM's order book and contribute significantly to the company's revenue stream over the next two years as Morocco continues investing heavily in sports infrastructure ahead of the global football tournament.