Construction of new Tangier port begins
Morocco, Economics, 2/18/2003

Morocco's King Mohammed VI launched in Tangier this Monday construction works of the new Tangier-Mediterranean port, part of the Tangier-Mediterranean Special Development Zone, 35 km east of Tangier.

The facility will cost 5 billion dirhams, nearly US$ 500 million. The port's construction works will start in March 2003 and will be completed by 2007.

The Hassan II Fund for Social and Economic Development will contribute 2 billion dirhams (US$ 200 million) to the construction and equipment of the port.

The remaining 3 billion dirhams will be funded by private operators.

The deep sea harbor will handle activities of container transshipment, international road transport, and conveyance of general goods and passengers.

The sovereign, then, chaired the signing of three conventions, two of which deal with the construction of the Tangier-Mediterranean special development zone. They were signed between the state and the special agency set up to this end and between the new agency and the Hassan II fund for economic and social development.

The third convention provides for the construction of a road between Tetuan and Fnideq and a by-pass road around Tetuan.

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