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Morocco’s King Mohammed VI has signed a plan to construct an industrial town in the port city of Tangiers, with significant Chinese private sector investment.

Construction of the Tangiers Tech City is set to begin in the second half of next year, and plans to host about 300,000 people.

It will also provide jobs for hundreds of Moroccans. It is hoped that Chinese firms will flock to set up plants in the North African kingdom, using it as a stepping stone for sales into Africa and Europe.

China-based aeronautics firm Haite Group is committing to be part of the initial phase.

A hundred million U.S. dollar initial investment will kick off the plan, which Morocco hopes will spread into billions of dollars over the course of the coming decade