Abu Dhabi funds Morocco rail line
A new high-speed train link will be built between the Moroccan cities of Tangiers and Kenitra after the Abu Dhabi Fund for Development (ADFD) agreed a concessionary loan of Dhs147 million.
ADFD has agreed the loan amount with the Office Nationale des Chemins de Fer du Maroc (ONCFM), Morocco’s national railway operator, to finance the construction of the high-speed train network.
Complementing ADFD’s first instal- ment of Dhs368 million released in 2010 for the rehabilitation of the track’s infrastructure and foundation systems, this second instalment will be used to finance the launch of a 200-km long, 320kph high-speed train that connects both hubs by 2018.
Mohammed Saif Al Suwaidi, Director General of ADFD, said: “This latest collaboration will ensure ease of movement for travellers, cargo and produce.
“It will dramatically decrease the duration of the trip between these two important cities from five hours to two hours.”
ADFD has funded 71 development projects in Morocco worth Dhs8.8 billion.