×
Joint-Venture Project
Jorf Lasfar Storage Terminal & Service Station Network
Operational and Financial Framework Presentation
May 2026
Executive Summary
A strategic partnership to capture Morocco's growing fuel market through integrated storage infrastructure and nationwide retail distribution.
The Partners & Legal Framework
The Partners
- Party A (The Distributor): OPTIM OIL SARL (Casablanca, Morocco).
- Party B (The Trader): Avant-Garde Commodities.
The Project Company
- Legal Form: Société Anonyme (SA) incorporated under Moroccan Law.
- Equity Structure: Strictly 50% - 50% ownership split.
- Corporate Name: To be mutually agreed prior to incorporation.
Project Scope & Core Objectives
Vision: Establishing a major new player in the Moroccan fuel market.
Pillar 1: Jorf Lasfar Terminal
Design, construction, and operation of a primary fuel storage facility at the strategic Jorf Lasfar port.
Pillar 2: Retail Distribution Network
Nationwide deployment and operation of a highly visible network of 50 branded service stations.
Storage Infrastructure (Jorf Lasfar)
Capacity Breakdown
- Fuels (120,000 m³):
- Gasoil: 100,000 m³
- Unleaded Petrol: 20,000 m³
Storage CAPEX Budget
Fuel Facilities: 383.76 M MAD
Total Storage (Exc. VAT)
383.76 M MAD
(460.51 M MAD Inc. VAT)
Storage Capacity Map (Jorf Lasfar)
Visual layout of all 9 storage units — Total: 120,000 m³
30,000 m³
DIESEL
30,000 m³
DIESEL
25,000 m³
DIESEL
6,000 m³
DIESEL
6,000 m³
DIESEL
3,000 m³
DIESEL
15,000 m³
PETROL
3,000 m³
PETROL
Retail Service Station Network
50
Active Stations
40% Greater Casablanca
20 stations | Budget: 110 M MAD
60% Nationwide
30 stations | Budget: 90 M MAD
Commercial Agreements
Mandatory Exclusivity
The JV is strictly bound to source 100% of its refined petroleum products and fuel inventory directly from Avant-Garde Commodities.
10-Year Renewable TermHighly Favorable Payment
Payment settled via standard corporate bank transfers within 90 days of the invoice date.
- No Letters of Credit (LCs)
- No Bank Guarantees required
Governance & Decision Making
Board of Directors
Equal representation from both parties guaranteeing a 50/50 voting control.
Law & Arbitration
Governing Law: Moroccan Law
Arbitration: CIMAC or ICC (Casablanca)
Unanimous Approval Required
- Final approval of the total estimated construction budget (Jorf Lasfar + Stations).
- Any alteration to the 40% Casablanca / 60% Nationwide distribution ratio.
- Any changes to the open-term credit limits allocated by Avant-Garde Commodities.
Financial Summary (Total Investment)
Key Assumption: 1 USD = 9.36 MAD
| Asset Category | Amount (Exc. VAT) |
|---|---|
| Fuel Storage Facility | 383.76 M MAD |
| Service Stations Network | 200.00 M MAD |
| Grand Total Project Investment | 583.76 M MAD |
(* 700.51 Million MAD Inc. VAT)
Key Financial Metrics
Projected performance based on 10-year financial model (in MAD)
Revenue (Year 1)
~103 M MAD
Terminal Operations
Revenue (Year 5)
~174 M MAD
5% Annual Growth Target
EBITDA (Year 1)
~155 M MAD
High-Margin Trading Model
Gross Margin
10%
On Fuel Trading Operations
Revenue Streams
Fuel Storage Operations
Assumptions & Staffing Requirements
Core Assumptions
- Land surface: 4 Hectare
- Total capacity: 120,000 m³
- Storage density: 30,000 m³ / Hectare
- Gasoil capacity: 100,000 m³
- Gasoline capacity: 20,000 m³
- Loading arms: 12 Loading arms
- Truck loading capacity: 33 m³
- Truck loading time: 40 minutes
- Work arrangement: 8 hours / day
- Daily loading capacity: 4,752 m³
- Facility turnover: 25 Days
Staff Expenses & Allocation
| Position | Headcount |
|---|---|
| Sphere Manager | 1 |
| QSE Manager | 1 |
| Maintenance Manager | 1 |
| Operating Crew | 8 |
| Maintenance Crew | 4 |
| Keepers | 4 |
| TOTAL GENERAL | 19 |
Service Station Network
Assumptions & Staffing Requirements
Core Assumptions
- Network global size: 50 Service Station
- Greater Casablanca & suburbs: 20 Service Station
- Other regional focus: 30 Service Station
- Monthly fuels orders: 400 m³ / Month
- Gross margin from sales: 650 MAD / m³
- Total monthly gross margin: 13,000,000 MAD
- Payback: 2-3 Years
Staff Expenses & Allocation
| Position | Headcount |
|---|---|
| Service Stations Managers | 50 |
| Pump Man | 120 |
| Store Manager | 50 |
| Service Clerks | 50 |
| Keepers | 100 |
| TOTAL GENERAL | 370 |
×