European Union grants morocco $72.7 mln for Mediterranean road

Morocco and the European Union signed this Friday a convention under which the Union contributes 800 million Dirhams ($ 72.7 million) to a 110 km long stretch of the Mediterranean by-pass.

The Mediterranean by-pass is a 560 km-long road project linking Morocco's northern and eastern towns of Tangiers and Saidia to break the isolation of this mountainous region. Set to be completed in 2004 at an estimated global cost of $ 271.7 mln (three billion DH), it is expected to service 200 km of beaches and tourism sites, and generate 50,000 direct and 200,000 indirect jobs.

The agreement was initialed for Morocco by economy, finance and tourism minister, Fathallah Oualalou, and equipment minister, Bouamour Taghouane and by head of the European Commission delegation in Rabat, Lucio Guerrato.

Other contributors to the project are France, Italy, Spain, Portugal, the United Arab Emirates and Japan.