Saudi businessman invests $22 million in tourism project in Morocco

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.