RABAT, March 12 (KUNA) -- A Moroccan newspaper reported on Thursday that three Gulf investment groups have revealed their intention to invest USD 250 million this year in Morocco, including the Kuwait Fund for Arab Economic Development (KFAED)Kuwait Fund for Arab Economic Development (KFAED)
Kuwait Fund for Arab Economic Development
KFAED
» Researchand the Kuwait Finance House Group (KFH)Kuwait Finance House Group (KFH).
"Al-Jareeda Al-Oula" newspaper quoted a KFAEDKFAED official as saying that the fund plans to pump between USD 60 to 100 million to contribute to the financing of one of the most important investment deals carried out by a Kuwaiti group in Morocco.
The newspaper, quoting the Kuwaiti official, who preferred to remain anonymous, said that Morocco is one of the most important investment destinations for Kuwaiti businessmen.
The newspaper added that the (KFHKFH
Kuwait Finance House
KFH
Last: 1.060 KWD
- 0.011
-1.030%
» Chart Data) is currently conducting a series of studies of the market in Morocco to discuss investment opportunities, saying that this group is able to expand its investment in Morocco.
In the same context, the newspaper quoted an official from the "ENOCENOC" group of the United Arab Emirates as saying that the group decided to invest USD 150 million to set up an investment project in the northern city of Tangier.
The Executive Director of the ENOCENOC Group Saeed Khoury said the investment will be to build the first phase of the plant in Tangier which is scheduled to enter service in the first quarter of next year.
© Copyright Kuwait News Agency 2009.
Friday, 13 March 2009
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