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China to Team With Morocco's BMCE Bank to Build $11 Billion Tech City: Reuters

By Tanner Brown / Jul 31, 2019 10:23 AM / World

Monaco Monte Carlo harbour french riviera

Monaco Monte Carlo harbour french riviera

One of Morocco’s largest banks is teaming up with China to help develop a new industrial city in the north African country, Reuters reported.

BMCE Bank’s president and chief executive told the outlet that China will help finance and build a 2,000-hectare city over 10 years.

“The city, to be called Tanger Tech Mohammed VI, aims to support 100,000 jobs and house 300,000 people, and the first development phase has already been achieved with industrial investors expected to receive the first plots later this year, BMCE Bank President and CEO Othman Benjelloun said via email,” Reuters reported.

Related: Chinese Consortium Signs Up for $6 Billion Algeria Phosphate Project

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