By The project reflects King Mohammed VI’s vision to strengthen Morocco’s position as a financial and industrial hub, an industrial megapolis connecting Europe and Africa,
The project of, Mohammed VI Tangier Tech City, is gaining momentum with the signing of share agreements between State-owned China Communications Construction Co (CCCC) and its subsidiary, China Road & Bridge Corp (CRBC), Tangier-Tetouan-Al Hoceima Region, Tangier Med Special Agency (TMSA), and Bank of Africa (BMCE).
The Chinese corporations will hold 35 percent of the capital of the Tangier Tech Development Company (SATT), which is tasked with building & managing the smart city launched by the Moroccan Sovereign in March 2017.
The 2000-ha new city is expected to be completed by 2027. It will house up to 300,000 people and help create 100,000 jobs.
Chinese company Aeolon, one of the world’s leading manufacturers of wind blades, has already announced its intention to set up a plant in, Mohammed VI Tangier Tech City. The production facility will cost the company $140 million and contribute to the creation of over 2,000 job openings.
Other Chinese firms operating in automotive, aerospace, textile, and electronics machinery, are also planning to install their factories in the City.
This ambitious project is expected to attract investments worth $10bn as the Moroccan authorities offer a competitive package including tax incentives to businesses operating in food industries, automotive, aeronautical, renewable energy, chemical, and textile.
The project aims to create a “sustainable, integrated, and intelligent industrial city,” said Morocco’s Ministry of Industry and Trade.
The smart city is set to host around 200 Chinese companies and will include a 947-hectare industrial acceleration zone (ZAI), as well as a 1,220-hectare area featuring service and residential areas, as well as tourism complexes.
Speaking at the signing ceremony, Morocco’s Minister of Industry and Trade Ryad Mezzour said that the project aligns with King Mohammed VI’s vision to make Morocco a financial and industrial hub, connecting Europe and Africa.
“It is an industrial megapole which undeniably supports the national industrial strategy and thus strengthens Morocco’s attractiveness and competitiveness on the international level,” he added.
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