Railway Finance Agreements Signed in Morocco
2004-11-01
The railways will be part of the estimated $500m Tangier-Mediterranean Special Development Zone
Three financing agreements were signed on Friday (29 October) between the Moroccan National Railway Office (ONCF) and a number of Moroccan banks. The first two agreements, valued at approximately $100m, aim at financing the 45km stretch of the Tangiers-Mediterranean Railway project. The third agreement, valued at approximately $80m, was signed between the ONCF and a similar consortium of Moroccan banks. It focuses on long-term financing for the Tangiers-Mediterranean and Tawrir-Alnadhour railways. The railways will be part of the estimated $500m Tangier-Mediterranean Special Development Zone slated for completion in late 2007. (menareport.com)
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