Spain, Morocco Discuss Submarine Tunnel Project

Moroccan prime minister with his Spanish counterpart (DPA)
Moroccan prime minister with his Spanish counterpart (DPA)
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Spain, Morocco Discuss Submarine Tunnel Project

Moroccan prime minister with his Spanish counterpart (DPA)
Moroccan prime minister with his Spanish counterpart (DPA)

The submarine tunnel project linking Morocco and Spain across the Strait of Gibraltar is back on the table of discussions between the two countries on the sidelines of the 12th Moroccan-Spanish high-level meeting in Rabat.

The two countries aimed to strengthen their partnership, but the project faced several obstacles that made its fate uncertain.

The Moroccan King Hassan II and King Juan Carlos I of Spain launched the project during a joint declaration in 1979.

Morroco’s National Company for the Studies of the Strait of Gibraltar and the Spanish Company for Fixed Telecommunications Studies Across the Strait of Gibraltar (SECEGSA) were established to conduct technical studies on the feasibility of the project.

Several excavations, studies, and experiments were conducted for this purpose 40 years ago.

After offering several options, the two companies decided at the end of the nineties to build a submarine tunnel and would link Punta Paloma (Tarifa) with Malabata (Tangier).

The project, which is among the largest in the world, is supposed to include two railways and a service and relief corridor. It is estimated at 38.5 kilometers, including 28 kilometers underwater, with a maximum depth of 475 meters.

For its part, SECEGSA says that the project would allow the passage of more than 13 million tons of goods and 12.8 million passengers annually, which could contribute significantly to the economic development of the western Mediterranean and increase the flow of Moroccan goods toward Spain.

However, over 100,000 ships pass yearly through the Strait of Gibraltar, restricting the passage of goods between the two countries.

The project remained saw no improvement during the past years, due to financial cuts in Spain, following the crisis of 2008 and due to diplomatic tensions between Rabat and Madrid.

However, the two countries normalized their relations after Madrid agreed last year to support the autonomy proposal proposed by Morocco as a solution to the Sahara conflict, which prompted their governments to revisit several joint issues.

The Spanish government allocated a sum of money within its 2023 budget to finance a new necessary study on launching the project’s construction.

The issue was also discussed during the high-level meeting between the governments in Rabat on Feb. 02, when the Spanish Minister of Transport, Raquel Sanchez, said that Madrid would push to speed up the studies, announcing the resumption of meetings of the joint committee on the project.

However, the project faces a technical problem, represented by the fact that the Strait of Gibraltar is located on the border of the European and African tectonic plates, a complex geological area with violent sea currents.

Professor of the Polytechnic University of Madrid, Claudio Olalla, told Agence-France Press that the tunnel would serve as a stimulus for the European and African economies.

He explained that the soil has poor quality, considering that the technical conditions are not suitable for constructing this tunnel.

On the technical level, the obstacles can be overcome, but the issue is about the project’s economic viability, increasing its cost, which has not yet been precisely determined.

Olalla also referred to the political obstacles associated with the periodic tensions between Madrid and Rabat, adding that the European Union fears the projects would be used for illegal immigration. Project sponsors deny illegal immigrants could use it.

Still, Olalla believes the project would eventually see the light, but not in the short run.



Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
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Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)

Türkiye Petrolleri (TPAO) has signed a partnership agreement with Shell to carry out exploration work in Bulgaria's maritime zone, the Turkish energy ministry and British oil major said on Wednesday.

European Union member Bulgaria, which had been totally dependent on Russian gas until 2022, has been seeking to diversify its gas supplies and find cheaper sources, Reuters reported.

TPAO and Shell will jointly explore the Khan Tervel block, located near Türkiye's Sakarya gas field, and will hold a five-year licence in Bulgaria's exclusive economic zone, Minister Alparslan Bayraktar said.

Shell will continue as operator of the block, while TPAO will take a 33% interest in the licence, a Shell spokesperson said.

Since the start of this year, TPAO has signed energy cooperation agreements with ExxonMobil, Chevron and BP for possible exploration work in the Black Sea and the Mediterranean.

In April, Shell signed a contract with Bulgaria's government to allow the oil major to explore 4,000 square metres in the block.


Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
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Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA

Saudia Airlines has signed a five-year strategic partnership with Six Flags and Aquarabia Qiddiya City, becoming the official premier partner exclusively in the airline category.

As part of the partnership, Saudia will develop special travel packages designed to enable visitors to experience world-class attractions. The collaboration also brings the spirit of Six Flags and Aquarabia Qiddiya City to the skies through special aircraft branding across Saudia’s fleet, SPA reported. 

Chief Marketing Officer of Saudia Group Khaled Tash said in a press release: "Saudia is committed to supporting national development projects as part of its contribution to Vision 2030, aligned with our strategy to bring the world to the Kingdom. Partnerships of this scale with national partners play a key role in positioning Saudi Arabia as a leading global destination for entertainment and tourism."

Park President of Six Flags and Aquarabia Qiddiya City Brian Machamer added: "Our partnership with Saudia not only reflects a shared ambition to connect the Kingdom to the world through world-class entertainment experiences, but strengthens our ability to attract visitors from around the world and realize our vision of setting a new global benchmark for immersive, world-class theme park entertainment and reinforcing Saudi Arabia’s growing presence on the global tourism stage."

Six Flags Qiddiya City sets a new benchmark for exceptional entertainment regionally and globally. Spanning six iconic themed lands, the theme park takes visitors on an immersive journey across 28 rides and attractions designed to world-class standards. Beyond the scale and diversity of its offerings, Six Flags Qiddiya City stands out for pushing the boundaries of engineering and entertainment, featuring five exclusive, record-breaking rides that have redefined global benchmarks. Leading these innovations is Falcons Flight, the roller coaster that has captured global attention as the fastest, tallest, and longest in the world.

Aquarabia Qiddiya City delivers a distinctive aquatic entertainment experience, offering 22 rides and water attractions, along with a man-made river designed for both relaxation and family-friendly water fun. For guests seeking privacy and elevated comfort, Aquarabia features 91 luxury cabanas, positioning the destination as a fully integrated leisure offering that redefines water-based entertainment to the highest international standards.

Located in the Tuwaiq Mountains near Riyadh, Qiddiya City is an emerging destination bringing together entertainment, sports, and culture. Six Flags and Aquarabia Qiddiya City form part of its entertainment offering.


Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
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Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the Kingdom’s capital markets and economy.

“This investment aligns to the Kingdom's Vision 2030 initiative and underscores its dynamism and growth,” Moody’s said in a statement this week.

The new regional headquarters marks an expansion of Moody’s presence in Saudi Arabia, where the company first opened an office in 2018, and reflects its longstanding commitment to the Middle East.

“The headquarters will strengthen Moody’s engagement with Saudi institutions and enable broader access to Moody’s decision grade data, analytics and insights,” said the statement.

“Our decision to establish a regional headquarters in Riyadh reflects our confidence in Saudi Arabia’s strong economic momentum, as well as our commitment to helping domestic and international investors unlock opportunities with our expertise and insights,” said President and Chief Executive Officer of Moody’s Rob Fauber.

“We are well positioned to provide the analytical capabilities and market intelligence that investors and institutions need to navigate evolving markets across the Middle East,” the statement quoted him as saying.

Mahmoud Totonji will lead the regional headquarters as General Manager.