 CDG, Mawared sign agreement to build a city near Amman
Dead Sea (Jordan) - Morocco's biggest state fund (CDG) and Jordanian company Mawared signed Sunday an agreement to build a new city, located 20 km from the Jordanian capital, Amman.
The agreement was signed by CDG Director General, Mustapha Bakkoury, and Director General of the National Resources Investment and Development Corporation (Mawared), Akram Abu Hamdan, in the presence of King Abdellah II of Jordan and Moroccan Prime Minister Abbas El Fassi.
Under the agreement, concluded on the sidelines of World Economic Forum, held on May 15-17 in the seaside resort of the Dead Sea, the holding company, created last year between the two groups, will be in charge of building a major part of the new city, dubbed King Abdellah Ibn Abdelaziz.
Bakkoury told MAP that this agreement is part of the strategic agreement signed between the two countries in January 2008 that provides for carrying out an urban integrated project on an area of 500 ha.
For his part, Abu Hamdan said the agreement aims to make of the city of King Abdellah Ibn Abdelaziz a modern city with all the necessary infrastructure.
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