Categories: Economy Morocco News

Morocco Partners with Chinese Companies to Develop Tangier Tech City

With a plan to house over 200 Chinese companies, the smart city is set to be a financial and industrial hub.

Rabat – Launched by King Mohammed VI in March 2017, Tangier Tech is a smart city to be built in the next 10 years. The city will host 200 Chinese companies upon completion. China’s Haite group will help finance the $1 billion project.

Tangier Tech Development Company (SATT) has signed a Memorandum of Understanding (MoU) for the implementation and the development of the Mohammed VI Tangier Tech City with China Communication Construction Company Ltd. (CCCC), and China Road and Bridge Corporation (CRBC).

SATT President, Othman Benjelloun, signed the MoU with CCCC Vice-President, Liang Qingshan, and CRBC Vice-President, Sun Yao Guo, on the sidelines of the Belt and Road Forum on Friday in Beijing, China.

Read also: Morocco, China Allocate MAD 140 Million for Joint Public Projects

The MoU reflects the determination of the three groups to develop the Mohammed VI Tangier Tech City by providing all the necessary means to move forward in the implementation of the project, said a statement issued by BMCE Bank of Africa.

The signing ceremony took place in the presence of Minister Delegate for African Cooperation Mohcine Jazouli and Morocco’s ambassador to China Aziz Mekouar.

The development of this project is part of the strengthening of cooperation between Morocco and China with a view to foster the economic development of Morocco and the entire African continent, the statement added.