Chinese Investors Visit Morocco to Finalize Tanger Tech City Project Financing

The Chinese delegation of CCCC/CRBC, led by Peng Xiaojun, Vice President of CRBC and President of China Holding Company, participated on Thursday, April 1, in a working session at the headquarters of Bank Of Africa with Othman Benjelloun, Chairman of BOA. The Mohammed VI Tanger Tech City Project was at the heart of this working meeting, which had been postponed several times due to the pandemic and the difficulties of travel from China, the BOA Group explained in a press release.

During this meeting, the Chinese side discussed the practical conditions for setting up a modern, futuristic, ecological industrial city, connected to new technologies and a symbol of an Africa open to the whole world. In addition, Benjelloun reiterated the strategic importance of the Project, which is intended to be a core of development and a vector of growth for the entire African continent.

Prior to this meeting, a working meeting was held on Wednesday, March 31, with the Minister of Industry and Trade, Moulay Hafid Elalamy, in the presence of the Moroccan partners, BOA and the Tanger Méditerranée Special Agency (TMSA), the group said in a press release.

This meeting was an opportunity to discuss the Investment Agreement that will be put in place in favor of the Tanger Tech Development Company (SATT), the same source specifies.

Last November, the Chinese shareholder had formalized its entry into the capital of the Tanger Tech Development Company (SATT), at the level of 35%, alongside BOA, TMSA and the Tanger-Tétouan-Al Hoceima Region, the press release recalls.

CCCC is ranked in the Top 5 of Chinese state-owned engineering and development companies, and its subsidiary CRBC-China Road and Bridge Corporation specializes in major infrastructure projects in China and internationally.