Morocco signs $ 20 mln investment contract with Saudi group

Morocco signed on Tuesday a US$ 20 million investment contract with Saudi Dahlan Group.

Under the contract, the Saudi Group pledges to build modern bus stations in several Moroccan cities at US$ 8 million. The project will generate 2000 jobs.

The Group will also consolidate the tourism of conferences, festivals and international exhibitions in Morocco through making available at hotels and airports a large fleet of limousines. The US$ 8-million project will meet a growing demand of foreign investors and will help create 1,000 jobs.

The Dahlan Group also undertakes to cooperate with Moroccan universities and institutes in matters of tourism-related training.

The group is one of the largest investment companies in the Middle East with a capital of more than US$ 40 million.