Abu Dhabi Fund for Development (ADFD) signed a USD 40 million concessionary loan agreement with the Morocco’s national railway operator, Office Nationale des Chemins de Fer du Maroc (ONCFM). This financing is allotted to the construction of the high-speed line between Tangier and Kenitra.
Complementing ADFD’s first instalment of USD 100.2 million released in 2010 for the rehabilitation of the track’s infrastructure and foundation systems, this second loan will be used to finance the launch of a 200 km line linking the two cities. The line, that will be opened in 2018, will allow trains to rut at 320 km/h.
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