Morocco High-Speed Project Receives Financial Boost

1 June 2010 (Last Updated June 1st, 2010 18:30)

Morocco has allocated funding for the Tangier-Casablanca high-speed train line project. The project will receive MAD4.8bn ($536m) from the state and MAD1bn ($111m) from the Hassan II Fund for Economic and Social Development. The scheme has also received MAD1.9bn ($212m) from Franc

Morocco has allocated funding for the Tangier-Casablanca high-speed train line project.

The project will receive MAD4.8bn ($536m) from the state and MAD1bn ($111m) from the Hassan II Fund for Economic and Social Development.

The scheme has also received MAD1.9bn ($212m) from France and Europe, and MAD12.3bn ($1.37bn) in other loans.

Work on the project is expected to begin in June 2010 and the line will be operational by 2015, according to the Morocco Board News Service.

The funding approval marks the first stage of Morocco's plans of building over 1,500km of railway lines by 2035.