AfDB Commits € 113 million to Morocco’s Nador West Med Port Complex | MAP
Morocco continues expanding its port infrastructure to expand its role as a trade hub:
The African Development Bank Group (AfDB) approved, here Wednesday, a loan of € 112.86 million to Morocco to help finance the construction of the Nador West Med port complex.
The loan, granted to the Nador West Med Company, with state guarantee, will be used specifically to finance the construction of port infrastructure in the first phase of this complex, the pan-African bank said in a note released Thursday in Abidjan.
“Located on the Mediterranean coast and in the northeast of the Kingdom, the complex is built around a major port and a commercial, industrial, logistics and service center that will be carried out on a free zone of about 1,500 ha and a port area of about 2,500 hectares”, AfDB said, noting that this project will be gradually put into operation as of 2021.
This project includes the construction of a 4,200 meter-long main breakwater, a 200metre-long secondary breakwater, a container terminal with a 1,520 meter quay, a depth of 18 meters and a 76-hectare back-up space, a specialized bulk cargo berth with a 360 meter-long and 20 meter-deep quay, a hydrocarbons terminal with three 20-metre deep oil berths, a 320-metre general cargo terminal (a roll-on/roll-off berth and a service quay) with a depth of 16 meters, and a fence, road networks and an access road.
The second phase of the project will comprise the development of the free zone (following the implementation of the first phase which covers about 500 ha by 2020) for commercial, industrial, logistical and services activities. The remaining will be developed based on the demand from the industries.
The project, which will cost a total of UA 740 million, will be co-financed by NWM Company (UA 326 million), the European Bank for Reconstruction and Development (EBRD) (UA 160 million) and the African Development Bank (UA 90 million). The Arab Fund for Economic and Social Development (AFESD) (UA 141 million)…[ORIGINAL STORY, SUBSCRIPTION REQUIRED]