Morocco Plans $213 Million Farming Project in Western Sahara

File photo of a police officer standing near a Moroccan national flag. REUTERS/Amr Abdallah Dalsh
File photo of a police officer standing near a Moroccan national flag. REUTERS/Amr Abdallah Dalsh
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Morocco Plans $213 Million Farming Project in Western Sahara

File photo of a police officer standing near a Moroccan national flag. REUTERS/Amr Abdallah Dalsh
File photo of a police officer standing near a Moroccan national flag. REUTERS/Amr Abdallah Dalsh

Morocco is seeking investors for a $213 million agriculture project in the disputed territory of Western Sahara irrigated by a wind-powered desalination plant.

The project aims to turn 52 square kilometers of unused land near the city of Dakhla into farms growing fruit, vegetables and animal feed, according to an Agriculture Ministry tender launched on Friday.

The project will be 77% state-funded and is part of a $7 billion development plan unrolled by Morocco in 2015 to upgrade Western Sahara's infrastructure, including the construction of a $1 billion port in Dakhla.

The wind-powered desalination plant, part of a wider series of projects aimed at countering water scarcity that has hit Morocco's agricultural output, was approved last year.



Saudi PIF to be Anchor Investor in Brookfield Middle East Partners

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat
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Saudi PIF to be Anchor Investor in Brookfield Middle East Partners

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat

Saudi Arabia's Public Investment Fund (PIF) will be an anchor investor in Brookfield Asset Management's new $2 billion Middle East-focused private fund, the companies announced on Wednesday.

A non-binding agreement for the PIF to back the new Middle East fund was signed with the Canadian asset management firm at the Kingdom's flagship investment summit taking place in Riyadh.

At least half of the capital is to be invested in Saudi Arabia and in international companies that are looking to expand in the Kingdom, the companies said in a joint statement.

The investment platform, known as Brookfield Middle East Partners (BMEP), will target $2 billion from a range of investors and intends to focus on buyouts and structured solutions, among other investment opportunities in the region.