US-British group pre-selected for water, power concession in northern Morocco

The American-British Enron and Azurix group was pre-selected for a 25-year concession for the distribution of water and power in the Moroccan northern cities of Tangiers and Tetouan, Moroccan L'Economiste daily reported. Nine other international groups were vying for the concession. The US-British group said it would invest $ 1 billion, if it wins the tender.

The global investment requested stands at $ 500 million, out of which $ 350 million will be poured in Tangiers.