By CFM , 2019-07-12 05:23:49
Morocco has kicked off construction of a high-tech city, known as Tanger Tech Mohammed VI, in Northern Tangier. This comes after China Communications Construction Co (CCCC) and its subsidiary, China Road and Bridge Corp (CRBC) and Morocco-based BMCE Bank signed a memorandum of understanding in April for the development.
Tanger Tech Mohammed VI city will be constructed in three phases covering up to 700 hectares out of 2,000 hectares in total. Work has already started to connect the city to roads, electricity, water and rail. The government of Morocco will grant tax incentives to companies operating in food industries, automotive, aeronautical, renewable energy, chemical and textile.
The tech city will also benefit from its Tanger Med Port which is currently still being expanded to enhance trade, to increase its container handling capacity to about 9 million making it the largest in the Mediterranean Sea. There is hopes that the tech city will attract investments worth US $10bn and create over 100,000 jobs.
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