5 May 2021
Deals | Casablanca | Real Estate Transactions & Financing
Gide's Casablanca office has advised the Millennium Challenge Account-Morocco (public establishment set up in September 2016 to manage the implementation of the Compact II programme, concluded on 30 November 2015 between the Government of the Kingdom of Morocco and the Government of the United States of America) on signing a partnership agreement between the Ministry of Economy, Finance and Administration Reform, the Ministry of Industry, Trade, Green and Digital Economy, and Agence MCA-Morocco (the Public Partners) on the one hand, and Cap Holding (the Private Partner) on the other hand, for the planning, development and management of a new industrial zone located in Bouznika in the vicinity of Casablanca - Morocco, and which will cover over 25 hectares.
This new industrial zone will be developed as part of a public-private partnership under the terms of which the public party undertakes, in particular, to finance and build off-site infrastructure (drinking water, electricity and sewage networks, construction of a wastewater treatment plant, a hydraulic complex and access roads). For its part, Cap Holding will invest nearly USD 11 million to complete in-site developments, ensure commercialisation and management of the industrial zone to the highest standards.
Gide's team with partner Wacef Bentaibi, counsel Loris Marghieri and senior associate Frédéric Pia advised MCA-Morocco and Ernst & Young on preparing and monitoring the call for tenders, and on drafting and negotiating the partnership agreement.