Africa Map

African Press Agency

African Press Agency Logo
   

 Home
 Culture/Media/IT
 News
 Environment/Natural Resources
 Events
 Religion/Civilisation
 Business/Finance
 Global Conflicts/Terrorism
 Features
 Sports
 Science & Tech
 Economic & Social Development
 Energy/Mining
 Country Profile
 Useful Links
 Contact us

Business/Finance

MOROCCO/TRAIN PROJECTBack
[Published: Tuesday July 13 2010]

 Morocco undertakes € 1.8bn high-speed train project
The Moroccan government is raising funds needed to carry out the €1.8 billion Tangier-Casablanca high-speed train (TGV) project. The government itself has allocated 5.8 billion dirhams: the state is contributing 4.8 billion dirhams while the Hassan II Fund for economic and social development is contributing one billion dirhams.
France agreed to provide €900 million for the financing of this project under an agreement signed in Marrakech on the occasion of an official visit to the kingdom, in October 2007, by French President Nicolas Sarkozy. The remaining €400 million is expected to come fro Arab countries, such as Saudi Arabia, which has granted Morocco some $200 million.

 


North South News website

Advertise banner

News icon Turkey/Military
News icon India/Virus
News icon Zimbabwe/Commowealth
News icon Africa/Migrants
News icon Zimbabwe/Corruption
News icon GUINEA/PM
News icon Saudi/Yemen
News icon Malaysia/Probe
News icon UK/Russia
News icon Venezuela/Elections

AFRICAN PRESS AGENCY Copyright © 2005 - 2007