International Business

Spain, Morocco Plan Undersea Tunnel: The two nations have agreed to forge ahead with a century-old dream of linking Europe and Africa by building a tunnel under the narrow Gibraltar Strait by the 21st century. A joint communique issued at the end of a two-day visit by Spanish Prime Minister Felipe Gonzalez said the planned tunnel is of enormous political and economic value to both countries. Analysts have estimated that the 14-mile tunnel, which would be one of the greatest engineering challenges in the world, would cost more than $10 billion. Morocco and Spain plan to seek aid from the European Union and other Western donors.