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Morocco signs $ 20 mln investment contract with Saudi group
Morocco-Saudi Arabia, Economics, 5/23/2002
Morocco signed on Tuesday a US$ 20 million investment contract with Saudi Dahlan Group.
Under the contract, the Saudi Group pledges to build modern bus stations in several Moroccan cities at US$ 8 million. The project will generate 2000 jobs.
The Group will also consolidate the tourism of conferences, festivals and international exhibitions in Morocco through making available at hotels and airports a large fleet of limousines. The US$ 8-million project will meet a growing demand of foreign investors and will help create 1,000 jobs.
The Dahlan Group also undertakes to cooperate with Moroccan universities and institutes in matters of tourism-related training.
The group is one of the largest investment companies in the Middle East with a capital of more than US$ 40 million.
Previous Stories:
Saudi extends Morocco $ 28 million loan for university hospital
(6/11/2001)
Moroccan Business Delegation Prospecting Opportunities in Saudi Arabia
(4/9/2001)
Moroccan-Saudi labor commission set up
(4/6/2001)
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