403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Nador West Med Port To Propel Eastern Morocco’S Economic Expansion
(MENAFN- The Rio Times) The completion of the Nador West Med port complex by the end of this year promises a significant boost to Eastern Morocco's economic landscape.
Positioned on the Mediterranean coast, this ambitious project aims to catalyze regional growth by enhancing Morocco's strategic position in the Mediterranean.
It also seeks to create a vital logistical link between Europe and Africa. The first phase involves constructing port facilities that lay the groundwork for future industrial development.
This phase sets the stage for the project's broader ambitions. The next phase will focus on establishing an industrial acceleration zone.
This zone is designed to stimulate industrial growth by attracting diverse businesses. The project financing is robust, backed by substantial contributions from significant financial institutions.
The African Development Bank (BAD ) and the European Bank for Reconstruction and Development (EBRD) have each committed €120 million, covering about 70% of the project's total estimated cost of €343.5 million.
The remaining 30%, or €103.5 million, comes from the Moroccan government through the Nador West Med-Bétoya Industriel & Logistic Zone (NWM-BILZ).
Funds from the BAD will be allocated towards earthworks and the construction of roads and infrastructure.
The EBRD and NWM-BILZ funding will focus on setting up public lighting systems and building a desalination plant for water supply.
Additionally, the funding will support the construction of an electric supply station and a wastewater treatment facility.
Nador West Med Complex
Investments also include environmental management, social equipment, and financial audits of the project.
The Nador West Med complex is poised to significantly impact the socio-economic development of the region.
It aims to enhance the appeal of the Driouch and Nador provinces by developing new residential areas and diversifying real estate offerings. The project will also accelerate urbanization in a predominantly rural environment.
Furthermore, the project is set to promote training and skill development in sectors such as automotive, housing, metallurgy, mechanics, and wind energy.
The development of these industrial zones will not only boost employment. It will also solidify Morocco 's position as a major industrial hub in the region.
The Nador West Med project will also invigorate existing industrial zones. This includes the Technopole of Oujda and the Industrial Park of Selouane.
Additionally, it will impact the Agropole of Berkane and the economic zone of Aït Kamara near Al Hoceïma.
Through these enhancements, Nador West Med stands as a beacon of economic and industrial growth. It promises a brighter future for Eastern Morocco.
Positioned on the Mediterranean coast, this ambitious project aims to catalyze regional growth by enhancing Morocco's strategic position in the Mediterranean.
It also seeks to create a vital logistical link between Europe and Africa. The first phase involves constructing port facilities that lay the groundwork for future industrial development.
This phase sets the stage for the project's broader ambitions. The next phase will focus on establishing an industrial acceleration zone.
This zone is designed to stimulate industrial growth by attracting diverse businesses. The project financing is robust, backed by substantial contributions from significant financial institutions.
The African Development Bank (BAD ) and the European Bank for Reconstruction and Development (EBRD) have each committed €120 million, covering about 70% of the project's total estimated cost of €343.5 million.
The remaining 30%, or €103.5 million, comes from the Moroccan government through the Nador West Med-Bétoya Industriel & Logistic Zone (NWM-BILZ).
Funds from the BAD will be allocated towards earthworks and the construction of roads and infrastructure.
The EBRD and NWM-BILZ funding will focus on setting up public lighting systems and building a desalination plant for water supply.
Additionally, the funding will support the construction of an electric supply station and a wastewater treatment facility.
Nador West Med Complex
Investments also include environmental management, social equipment, and financial audits of the project.
The Nador West Med complex is poised to significantly impact the socio-economic development of the region.
It aims to enhance the appeal of the Driouch and Nador provinces by developing new residential areas and diversifying real estate offerings. The project will also accelerate urbanization in a predominantly rural environment.
Furthermore, the project is set to promote training and skill development in sectors such as automotive, housing, metallurgy, mechanics, and wind energy.
The development of these industrial zones will not only boost employment. It will also solidify Morocco 's position as a major industrial hub in the region.
The Nador West Med project will also invigorate existing industrial zones. This includes the Technopole of Oujda and the Industrial Park of Selouane.
Additionally, it will impact the Agropole of Berkane and the economic zone of Aït Kamara near Al Hoceïma.
Through these enhancements, Nador West Med stands as a beacon of economic and industrial growth. It promises a brighter future for Eastern Morocco.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment