It’s official! The Regional Multiservice Company (SRM) of Casablanca-Settat, established in February, has obtained authorization to take complete control of Lydec SA.
This development comes via a decree signed by the head of the government, published in the official bulletin on July 29. The decree allows SRM to acquire 100% of Lydec’s capital, previously held by Veolia Environnement through its subsidiaries Vigie 50 SAS and Vigie Groupe SAS. As a result, SRM has been entrusted, following an extraordinary session on June 3 by the council of the commune, with the management of water, electricity, and liquid sanitation distribution across the entire Casablanca-Settat region.
In conjunction with this acquisition, the delegated management contract between the city and Lydec has been shortened by three years; it was originally set to run until 2027.
Additionally, on the same day, the SRM board of directors approved the decision to enter into the capital of the now former delegated manager by 100%.
