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(AFX UK Focus) 2008-11-14 20:10
France agrees 625 mln eur loan to fund Morocco TGV
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PARIS, Nov 14 (Reuters) - Alstom and French rail operator SNCF moved a step closer to contracts for a high-speed train link between Tangiers and Casablanca, after France agreed on a loan to Morocco to help finance the project. French Trade Secretary Anne-Marie Idrac signed for the 625 million euro ($792.8 million) loan, which will finance rolling stock and equipment for the Tangiers-Casablanca link, during a meeting on Friday with Moroccan Finance Minister Salaheddine Mezouar, France's foreign trade ministry said in a statement.
Morocco and France had already signed an agreement on the 500 km project last year, which is worth around 2 billion euros according to press reports, allowing French companies to design, build, operate and maintain the line.
Alstom was not immediately available for comment.

($1=.7883 Euro)

(Reporting by Jean-Michel Belot, writing by Helen Massy-Beresford) Keywords: ALSTOM/SNCF (helen.beresford@thomsonreuters.com; +33 1 49 49 56 83; Reuters Messaging: helen.beresford.thomsonreuters.com@reuters.net)

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