Morocco

KFAED, KFH intend to invest USD 100 mln in Morocco

Kuwait News Agency citing that the Moroccan newspaper "Al-Jareeda Al-Oula" reported that three Gulf investment groups have revealed their intention to invest USD 250 mn this year in Morocco, including the Kuwait Fund for Arab Economic Development (KFAED and the Kuwait Finance House Group (KFH).
In the same context, the newspaper quoted an official from the "ENOCENOC" group of the United Arab Emirates as saying that the group decided to invest USD 150 million to set up an investment project in the northern city of Tangier.

The Executive Director of the ENOCENOC Group Saeed Khoury said the investment will be to build the first phase of the plant in Tangier which is scheduled to enter service in the first quarter of next year.

Gulf Finance House and others to develop resort in Morocco

Morocco has signed a letter of intent with Itmar developpement, Abou Dhabi Investment and Gulf Finance house to develop a USD 1.8 bn, 270 hectar large resort in Essaouria, Morocco at Davos.

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