The OPEC Fund for International Development will finance $14.3 million for the second phase of the studies in the submarine Nigeria-Morocco gas pipeline project.
According to a statement by the Moroccan Ministry of Finance on Friday, the agreement was signed by the Moroccan Finance and Economy Minister, Nadia Fettah and the General Director of the OPEC Fund, Abdulhamid Alkhalifa.
The Australian company WorleyParsons announced on Wednesday in a statement that it has been awarded the second phase of the studies, which is progressing in accordance with the initial project planning, Xinhua news agency reported.
In January, the Islamic Development Bank has signed an agreement with Morocco to provide $15.45 million to the Nigeria-Morocco gas pipeline studies.
This gas pipeline project would cover 7,000-km long through 13 west African countries, and extend to Europe, according to WorleyParsons.
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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