HomeEconomy“Up to 10 billion euros” in contracts and agreements between France and...

“Up to 10 billion euros” in contracts and agreements between France and Morocco

Energy and transportation stand out in particular.

On the occasion of Emmanuel Macron’s state visit to Rabat, which began on Monday, France and Morocco celebrated contracts and investment agreements whose total amount will reach “up to ten billion euros,” the French presidency announced.

Several agreements were signed on Monday afternoon in the presence of the French president and the King of Morocco, Mohammed VI. Others will be on Tuesday.

They refer to the railway sector, renewable energies of which Morocco aims to become a champion, the energy transition and even cooperation in energy connectivity.

In particular, the French group Egis is scheduled to participate in the construction of the second section of the Tangier-Marrakech high-speed line. According to constant sources, Alstom will also participate in negotiating the supply of between 12 and 18 high-speed trains. The first section was inaugurated by the king and the French president in 2018.

“Alstom is delighted to have been selected,” the group told AFP. The new generation of trains presents “the most competitive life cycle cost per seat in the current market and significantly improves the passenger experience,” he added.

Still along the way, the French Minister of Economy, Antoine Armand, signed with his counterpart a declaration of intent regarding “financing facilities” in the sector.

green hydrogen

In addition, the French company TotalEnergies signed an agreement for the “development of the green hydrogen sector” in Morocco. A similar agreement was already concluded in May with Tunisia with a view to building a large green hydrogen production and export complex in the south of the country.

Engie and the Cherifian Phosphate Office, for their part, signed a “partnership for energy transition” agreement, which includes renewable energies. The French Development Agency will also help the Moroccan phosphate industry to decarbonize its operational chain through a loan of 350 million euros.

Finally, EDF, for its part, signed a memorandum of understanding regarding the expansion of the Taza wind farm (east).

Author: VG with AFP
Source: BFM TV

Stay Connected
16,985FansLike
2,458FollowersFollow
61,453SubscribersSubscribe
Must Read
Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here