Spanish multinationals consolidate presence in Morocco

The Spanish government has recently decided to participate in two projects to be conducted in Morocco by two Spanish multinationals Endesa and Telefonica, Spanish daily Cinqo Dias reported.

The two projects, worth 370,7 million Euros, include the construction of a 255.9-million-euro power plant. The Spanish government pays 11.36 million Euros.

Telefonica will invest 123.8 million Euros in Morocco's telecommunication sector, with the Spanish government contributing 25 million Euros.

Morocco is Spain's 10th client in the world and the first in Africa.