Abu Dhabi funds Morocco rail line

7 Days in Dubai - - BUSINESS -

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.

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