Lydec public utility firm to invest over $82 million in Moroccan water grid

Casablanca-based Lydec, a branch of French Lyonnaise des Eaux company, will invest over $82 million to upgrade water and power grids in Morocco's economic capital city, Casablanca.

At a news conference Tuesday in Casablanca, Lydec's managing director said the company is planning to inject $82 million over a two-year period, including nearly $40 million to be used for cleaning up the Casablanca water grid.

Last year, Lyonnaise des Eaux de Casablanca (Lydec) won a $3 billion contract for the water-electricity management of Casablanca for 30 years.

Located on the Atlantic coast, Casablanca is the country's largest city, with a population of four million.