Morocco to Spain tunnel excites investors
US publication the Seattle Times has reported about the potential tunnel linking Morocco with Spain is now a serious possibility. Spain and Morocco have commissioned a new study on building a tunnel under the Strait of Gibraltar and the project is now in the planning stage. This is really exciting news for the property investors across the borders of both countries. The planned tunnel would be 38.7 kilometers long with 28 kilometers running 400 meters (1,200 feet) under sea level. Several million Euros are invested by both Spain and morocco in exhaustive research studies and they are likely to seek the EU’s assistance for financial support.
Spanish company SECEG and Moroccan counterpart SNED (Societe Nationale d’Etudes du Detroit de Gibraltar) asked a four-company consortium in September 2007 for proposing plans for the undersea rail link. The four companies involved in the project are Morocco’s Ingema, Typsa of Spain, Geodata of Italy and Lombardi’s eponymous engineering firm. El Pais newspaper recently reported that Angel Fernandez-Aller, engineer with Typsa has said that the tunnel could be in operation by 2025.
Karim Ghellab, Morocco’s minister of transportation he stated in his recent interview that the project will surely happen and prediction of date is not easy. This is a significant development that will undoubtedly boost the Moroccan economy further. This would encourage holidaymakers and investors to take a brief detour into North Africa during their trip to Spain. The tunnel is set to boost property prices and demand for real estate in Spain and Morocco.
The tunnel will have a positive effect in morocco economy and particularly Tangiers is likely to benefit from a huge influx of visitors. Government official figures revealed Morocco attracted 7.4 million holidaymakers in 2007.
Popularity: 18% [?]
Wow! Thank you! I always wanted to write something in my site like that. Can I take part of your post for my blog?