Moroccan Group to invest $ 3.3bln in Niger

Niamey - Moroccan group Ymmy Finance Holding will invest US $ 3.3 billion in several industrial and infrastructure projects in Niamey, the city's authorities and the Moroccan group have announced. "There are six projects that will be carried out over 8 years and the majority fall under a Public-Private Partnership (PPP) contract of $ 3.3 billion," said the president of the Moroccan group, Ahmed Lotfi.

"The Memorandum of Understanding was signed on Saturday" between the two parties and it is the result of "two years of talks" with the Moroccan group, stressed the central mayor of Niamey, Oumarou Dogari. The projects concern the construction of an agro-food complex (fattening of livestock, fodder crops, slaughterhouse, meat processing, milk and poultry sector), of a "new city" with nearly 40,000 social housing units and a shopping center covering more than 1,000 hectares, according to the website of Niamey town hall.

The other projects are intended to set-up a "smart city" along the banks of the Niger River, the construction of an industrial zone and the installation of 20,000 solar street lights manufactured by Moroccan companies.