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Algeria connects Spain to gas pipeline
Medgaz, the international natural gas consortium of five companies, completed the process of laying pipeline between Algeria and Spain. The 210 kilometer distance separating the coasts of the two countries is now connected by a 61 centimeter diameter subterranean pipeline. The pipeline that is laid at depths of up to 2,160 meter is projected to transport 8 billion cubic meters of natural gas per year between Spain and Algeria. The project that cost $1.27 billion was signed in August 2000 and will start transporting gas before the second half of 2009.
Oman to develop airports’ maintenance facilities
The Middle East maintenance, repair and overhaul (MRO) sector was worth $2.2 billion last year and is expected to grow by 70 percent to $3.4 billion over the next 10 years. The Omani government is participating in this growth with issuing tenders for contracts to design and supervise the construction of two new maintenance facilities at Muscat and Salalah airports. The Transport and Communication Ministry is continuing the expansion scheme at the two airports by planning a maintenance, repair and overhaul facility for both sites. The project has an objective for enhancing the Omani aviation services capabilities and developing the country’s transport and tourism infrastructure.
Morocco’s inflation hits five-year high
Inflation in Morocco has reached its highest level in five years. Prices increased by 3.9 percent in 2008, compared with an inflation of 2 percent in 2007. The rise in food prices was the main factor, with food inflation at 6.8 percent, while non-food inflation was just 1.4 percent. It is worth noting that Morocco’s underlying inflation, which excludes commodities such as diesel that are subsidized by the government, grew by 4.5 percent and is higher than the overall inflation. Rabat recorded an inflation rate of 4.9 percent, Tangier and Casablanca’s inflation were 4.5 percent and 4.1 percent respectively. On the other hand, unemployment in 2008 is projected to hit 9.5 percent, down from 9.75 percent in 2007, with a labor force of 11.3 million. Furthermore, in 2008, Morocco’s main exports of phosphate rock increased by 168 percent over 2007 to $5.66 billion with a price of $409 per ton in the third quarter of 2008.
