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KIA invests €400m in GCC-Morocco venture

April 3, 2014 2:20 am

Kuwait Investment Authority (KIA) has said its Al-Ajial Investment Fund is investing €400m in the Wessal Capital Gulf-Morocco venture, an equal share to that put in by the sovereign funds of Saudi Arabia, Qatar, the UAE, and Morocco, Kuna has reported. A total of 780 million of the total investment would be channelled to the Wessal Casablanca-Port project, which is aimed to bolster this gulf-Morocco partnership, the fund’s general manager Waleed Al-Fehaid told reporters in Casablanca. The Gulf-Morocco investment partnership is broken into equal contributions by Kuwait Investment Authority, Qatar Holding, Abu Dhabi’s sovereign wealth fund Aabar, Saudi Investment Fund, and the Moroccan Fund for Tourism Development (FMDT). The total Wessal Capital stands at $3.4bn.