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Portuguese group bids for building, operating tourism area in Morocco
Morocco-Portugal, Economics, 10/12/2002
Portuguese tourism group "Pestana" is bidding for the building and operation of a tourism zone in Guelmim (southern Morocco), one of five new sea resorts Morocco has initiated as part of the "Azur plan."
An official from the Portuguese group, set in 1972, said the resort is attractive in view of its location to the south of another important sea resort city (Agadir), on the axis of the Canary Island and proximity of an airport.
The group is further contemplating to buy hotel units in Rabat and Marrakesh.
According to first estimates, the Guelmim tourist zone will require an investment of 100 million Euros. The project will include 28 hotels and 300 villas.
Previous Stories:
Portuguese Businessmen want partnership with Moroccan peers
(10/10/2002)
Moroccan, Portuguese businessmen probe partnership possibilities
(5/11/2002)
Portugal opens 10 million euro credit line for Moroccan SMEs
(12/19/2001)
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