Morocco spends $500m on new stadium for World Cup 2030

Soccer Football - FIFA Virtual Council Meeting - Zurich, Switzerland. Source: Reuters

A deal was signed the same day between the government and state-owned fund CDG to finance the new stadium to be ready by 2028 for a total cost of $500m, the office said in a statement.

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The six stadiums - to be renovated to host the African cup of nations in 2025 and the 2030 World Cup - are in the cities of Agadir, Casablanca Fez, Marrakech, Rabat and Tangier, it said.

Earlier this month, FIFA allocated the 2030 World Cup to Morocco, Spain and Portugal but also said Uruguay, Argentina and Paraguay would host three matches to mark the tournament's centenary.

Morocco will be the second African country to host the World Cup after South Africa in 2010.