Spanish economic delegation expected in Morocco for new investments

A delegation from the Spanish electric energy company "Union Fenosa" is expected in Morocco next week to prospect new investments in Morocco.

A source at the Spanish company says the visit is part of a new strategy to seek investments in high-tech electricity services and modern business management techniques.

Victoriano Reinoso, a top executive of the firm, says it is time to start activities in Morocco which boasts sound economy, political stability and a new drive to modernize strategic sectors.

He added that "Union Fonusa" is very interested in Morocco's electric energy, including production and distribution, in view of its experience in the production of conventional and renewable electricity and 100 years of experience of supplying electricity to rural areas. The company is planning to open a branch in Morocco which will hire, at a first stage, 150 highly skilled persons, trained in the working methods of the head office. The Moroccan branch will also serve as a basis for the company's activities in the Maghreb.