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FINANCIAL NEWS
Morocco inks deal for USD10bn tech city
21 Mar 2017
(MENAFN) Morocco proclaimed that an USD10bn project to build a new industrial and tech hub near the northern city of Tangiers will be financed by Chinese group Haite, Bank of Africa and Morocco.
Additionally, Morocco and the Chinese government inked a basic deal last year for the 2.000 hectare city, which will offer 100.000 jobs and house 300.000 inhabitants.
The investment will be made over a 10-year period, while the city will be located in the north of the nation and contain multiple industrial zones.
In Morocco there the Chinese firms have been involved in a number of infrastructure projects, involving a suspension bridge linking the capital Rabat with the city of Sale.
MENAFN2103201700450000ID1095331677
MENAFN2103201700450000ID1095331677
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