$1 billion International Moroccan bid to manage electricity, water networks

The Moroccan government is currently preparing to put an international bid for a contract to establish and manage electricity and water networks in Tangier.

A spokesman at the Moroccan embassy in Cairo told ArabicNews.com today that the contract is worth $1 billion and contains the condition that the companies should not have less than five years of experience in similar work and capital of no less than 300 million dirhams.

Morocco entered into a contract last year to develop electricity and water networks in Rabat and its neighboring areas for 30 years with a Portuguese - Spanish consortium, at a cost of $1.4 billion.