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Saudi businessman invests $22 million in tourism project in Morocco
Morocco-Saudi Arabia, Business, 3/24/2000
Saudi businessman Sheikh Salah Kamal Ali is to inject $22 million in a luxury tourism project in the southern Moroccan city of Agadir.
The compound, whose founding stone was laid at a ceremony in Agadir Wednesday, will include holiday villages, suites and thalassotherapy facilities.
Sheikh Salah said this is just the first unit of a set of projects that his company will carry out in southern Morocco.
The compound to be achieved by October 2001 will increase the city's bed capacity by 800 beds and will generate some 400 jobs.
Previous Stories:
Saudi holding to invest in Morocco's tourism, finance sectors
(1/17/2000)
Moroccan-Saudi business council calls for creating permanent secretariat
(1/26/1999)
Saudi catering chain to settle in Casablanca
(1/22/1999)
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