(Ecofin Agency) - Banque Marocaine du Commerce Extérieur (BCME Bank) just started construction of a 45-storey and 250 m tower in Bouregreg, near Rabat, for 3 billion dirham ($307 million).

Construction works for the tower which is to be Africa’s tallest started on March 9. King Mohammed VI was present at the launching. The tower is the central pillar of the future urban, touristic and cultural centre which will be established in Rabat. The Wessal Bouregreg as it is named is one of the major components of the “Rabat Ville Lumière, Capitale marocaine de la Culture (Rabat City of Lights, Capital of Culture)” program, launched by the king in May 2014.

Covering a 3 hectares area, the tower should house a 350 seats auditorium, businesses at the ground floor, offices in the first 12 floors, a residential area from the 13th to the 26th floor (55 apartments) and a luxury hotel in the upper floors. The four remaining floors will host high-standing apartments.

A third of the tower’s façade will be covered with photovoltaic panels which are to power the infrastructure.