China Communication Construction Company Ltd. (CCCC), and China Road and Bridge Corporation (CRBC) will take over the construction and development of Mohammed VI Tangier Tech City that was initially set to be partly carried out by Chinese group HAITE. The related Memorandum of Understanding was signed by Tangier Tech Development Company (SATT) and the two Chinese companies CCCC, and CRBC, on Friday in Beijing, on the sidelines of the Belt and Road Forum, China. Launched by King Mohammed VI in March 2017, Tangier Tech is a smart city, set to house over 200 Chinese companies that are expected to bring investments worth $10 bln, and to be a financial and industrial hub. HAITE, the first Chinese group involved in the project, pulled out after having reportedly encountered a series of problems. Some press reports spoke of a disagreement between Morocco and the Chinese company over who would own the city.

Source: The North Africa Journal April 28, 2019 22:52 UTC