Morocco, Egypt set up $ 100 million construction firm

Morocco and Egypt have set up a joint construction firm that will mainly operate in building low-cost lodgings, the Egyptian press reported, MAP reported.

The constituent meeting of the firm will be held next week on the fringes of the encounter of the two countries' high joint commission in Rabat.

The Moroccan-Egyptian high joint commission will hold its third session next week in Morocco. The meeting will be co-chaired by King Hassan II and President Housni Mubarak

Several enterprises, including banks, will participate in the capital of the firm, which amounts to $ 100 million.

The renovation the airport of the Moroccan northern town of Nador is among the projects to be carried out by the firm in the near future.