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Signature of the convention codicil of development of the Mazagan station. The investment planned for the first phase of the tourist station Mazagan passes from 2, 25 to 3 ,25 billion DH.
It is expected that the investment cost for the first phase of the tourist station Mazagan (Province d'El Jadida)passes from 2,25 billion dh to 3,25 billion dh, after the signature of the convention codicil of development of this station, on Wednesday 24 th May in Rabat, during a ceremony chaired by the Prime Minister, M. Driss Jettou,
This convention codicil was signed by M. Jettou ,on the one hand,and by MM. Butch Kerzner, Mustapha Bakkoury, El Mouatassim Belghazi, Abed Yagoubi Soussane, representing the "Kerzner Investment Morocco Limited Group, the Morocco United Arab Emirates Company of Development (SOMED), Deposit and Management Office (CDG),the Moroccan Agricultural mutual insurance (MAMDA), and the Moroccan Central mutual insurance (MCMA)",on the other hand.
Besides, It formalizes the introduction of the Emiratie Istithmar Company (PSJC), via its subsidiary Nakheel Hotels and Resorts LLC, in the round table of Kerzner Investments Morocco Limited, company created by International Kerzner Limited within the framework of the development of this station. The Nakheel Hotel and Resort company is the projects developer of the Dubai artificial tourist island.
The first phase of works, includes, in particular, the creation of 1.000 beds, a gulf of 18 holes, a congress center and animation equipments; it will start during the last quarter of the year 2006 and will be completed at the end of the year 2008. The total investment amount required for the development of the Mazagan station is approximately 6,3 billion DH (including the 3,25 billion DH allocated to the first phase which is entirely supported by the Grouping).
The Mazagan tourist station allows the creation, within three phases, of 7.600 beds (including 3.700 hotel beds), two golf courses of 18 holes, a congress center, animation and leisure equipments, as well as trade. In addition, it will afford the creation of 2.000 direct jobs and 10.000 indirect jobs.
Source : MAP
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