Emirati investors to pump around 37 million euros into Morocco’s Agriculture
Middle East Confidential | 8 December 2015
Morocco-UAE: Emirati investors to pump around 37 million euros into Morocco’s Agriculture
by Jaber Ali
Emirati investors have agreed to invest up to 37 million euros on six agriculture projects in Morocco, report say.
Morocco’s Minister of fisheries and agriculture Aziz Akhannounch signed three agreements with UAE investors who promised to pump up around 37 million into six Moroccan agriculture projects. The agreements were signed in Abu Dhabi during the sixth edition of SIAL Middle East from December 7 to 9.
The three agreements signed in the frame work of public-private partnership will enable Morocco to gather the necessary funds enough to launch its 1,515 hectare-agriculture projects.
According to reports, the agreements revolve around the following elements:
-Planting of olives on 190 hectares and installation of the grinding plant (100 tonnes per day), total cost: 6.93 million euros, at El Hajeb.
-Planting of citrus fruit trees on 200 hectares and installation of a packaging plant (1,000 tonnes yearly), a freezing plant (3 cold rooms of 1,300 tonnes) with a total cost of 5.4 million euros at Kenitra.
-Four other projects on 1,125 hectares related to fruit growing, red fruits and stock breeding at Kenitra, Sefrou, Fkih Ben Saleh and Marrakech with a total cost of 24.3 million euros.
A number of Moroccan businesses in agriculture with diversified sectors including agro-food, cereals, fruit growing, red meat, citrus fruits, olives, truck farming are expected to attend the fair.
SIAL Middle East is one the leading Middle East agriculture and business fairs and hosts this year more than 900 exhibitors from 45 countries and more than 20,000 visitors from 88 countries are expected.
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