Bouteflika

Morocco to back China’s textile Sunrise group with $410 mln

Morocco will offer a financial aid to China’s textile giant Sunrise Group worth 410 million dollars, to help fund an industrial project that would employ 11,000 people. The news came following a visit by Akhannouch- who was in China to attend an Africa summit- to a Sunrise factory where he met officials from the Chinese […]

AfDB Puts $1.7 bln on a Trans-Maghreb Train Feasibility Study

In a bid to revamp rail transport in the Maghreb region, the Secretariat of the Arab Maghreb Union (AMU) is supervising a feasibility study worth $1.7 billion, funded by the African Development Bank (AfDB). The train aims to link the three countries of Morocco, Algeria and Tunisia. The feasibility studies are launched at a time […]

New study estimates Morocco earthquake damage at $300mln

A new assessment by the Policy Center for The New South put the material damage of Sept 8 earthquake at 3 billion dirhams ($300 million), accounting for nearly 0.2% of Morocco’s GDP. The quake which hit vast swathes in the High Atlas mountains killed 3000 people and damaged 59,674 buildings, of which 32% were destroyed […]