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The new industrial and technology hub, located close to the city of Tangiers, will be funded by Chinese group Haite 002023.SZ, BMCE's Bank of Africa and the Moroccan government
According to Construction News, the Moroccan and the Chinese government signed a preliminary memorandum of understanding last year for the 2,000-HA city, which will deliver 100,000 jobs and accommodate 300,000 inhabitants, Industry Minister Moulay Hafid El Alamy said in a presentation.
North Africa Post have reported that Ilyas El Omari, president of the Tangier-Tetouan-Al Hoceima region, said that said the project will create jobs in the region, promote technology transfer and boost the competitiveness of the Moroccan economy.
The new multiple industrial zones will specialise in sectors including aeronautics, automobiles, telecommunications, renewable energy, and transport equipment. Reuters have reported that Chinese firms have been active in the Maghreb, especially in Algeria. In Morocco they have been involved in a number of infrastructure projects, including a suspension bridge connecting the capital Rabat with the neighbouring city of Sale that is among the longest in Africa and was completed last year.