[News] Morocco’s UM6P Raises Nearly $1 Billion Funds from OCP Foundation

[Revo]

 

Rabat - The OCP Foundation has injected MAD 10 billion ($986 million) into Mohammed VI Polytechnic University (UM6P), according to converging news reports.

After receiving the capital from the OCP Foundation, UM6P’s capital rose to MAD 32 billion ($3.1 billion), up from MAD 22 billion ($2.1 billion), reports indicate.

UM6P is set to use the capital to carry out plans to expand its campuses in Benguerir, Rabat, and Laayoune. The university is also set to launch a number of new projects, including the Smart Health Care City in partnership with Akdital. 

The project is one of the massive facilities of the new green city of Benguerir, an ambitious project for a sustainable city in the desert area of Morocco, near Marrakech.

The Smart Health Care City will host three hospitals inserted on a logistical and clinical platform. The project is expected to become operational in September 2024.

The university has also announced the construction of the DoubleTree by Hilton hotel in Benguerir, with a capacity of 200 beds. The hotel should become operational by September 2023. This new infrastructure aims to cater to the needs of the university’s students and visitors to its Benguerir campus.

The facility will feature a state-of-the-art gym, among other recreational facilities. For meetings and events, plans for the hotel include six meeting rooms and a conference room. 

The hotel will be owned by Societe Hoteliere de Ben Guerir, a subsidiary of Mohammed VI Polytechnic University. 

In recent years, UM6P has emerged as a research powerhouse in Morocco and Africa at large. The university is currently funding research in key areas that directly address some of the most pressing challenges Morocco is facing, including agriculture, energy efficiency, and water management.
 

https://www.moroccoworldnews.com/2023/04/354797/moroccos-um6p-raises-nearly-1-billion-funds-from-ocp-foundation