The Chinese giant will invest €350 million to build the plants. The company will build the first factory in Kenitra’s Atlantic Free zone.
The second factory will be built in Tangier’s tech city.
The Chinese firm aims to produce six million units every year for export. The project also seeks to create 1,200 job opportunities.
Minister
of Trade Moulay Hafid Elalamy said the “implementation of this
strategic project reflects the strong will of Morocco and China to
reinforce their bilateral relations.”
of Trade Moulay Hafid Elalamy said the “implementation of this
strategic project reflects the strong will of Morocco and China to
reinforce their bilateral relations.”
He added that the construction of the first factory “should take less than 10 months.”
Elalamy
claimed that Morocco’s automotive industry has established itself as a
leading export sector and a driving force for the domestic industry.
claimed that Morocco’s automotive industry has established itself as a
leading export sector and a driving force for the domestic industry.
He added that more efforts will be made to further support the sector.
Elalamy
and Morocco’s Minister of Finance and Economy Mohamed Boussaid signed
the agreement with Vice President of Citic Group Corporation and
Chairman of Citic Dicastal Xu Zuo.
and Morocco’s Minister of Finance and Economy Mohamed Boussaid signed
the agreement with Vice President of Citic Group Corporation and
Chairman of Citic Dicastal Xu Zuo.
Xu said
that through this project, “Dicastal will expand its global coverage and
contribute to the industrial development of Morocco.”
that through this project, “Dicastal will expand its global coverage and
contribute to the industrial development of Morocco.”
The
Citic Dicastal Group has 30 production hubs in Europe, North America,
and China dedicated to the production of light automotive components and
aluminum rims.
Citic Dicastal Group has 30 production hubs in Europe, North America,
and China dedicated to the production of light automotive components and
aluminum rims.
The company supplies major automakers, including Renault-Nissan, PSA, GM, Ford, FCA, Toyota, Volkswagen, BMW, and Audi.
The agreement followed an announcement in June of the launch of construction on Magneti Marelli’s production plant in Tangier. The project will cost MAD 405 million and create 500 job opportunities.
The plant will also be operational by 2019.
The
automotive industry led the list of growing sectors in Morocco’s
exports, with an increased production of 19.1 percent, in the first six
months of 2018. This sector remains a top priority for Morocco. Morocco
manufactured 341,802 passenger vehicles in 2017, for the first time
surpassing South Africa which produced 331,311 units, according to a
2017 report conducted by IOL.
automotive industry led the list of growing sectors in Morocco’s
exports, with an increased production of 19.1 percent, in the first six
months of 2018. This sector remains a top priority for Morocco. Morocco
manufactured 341,802 passenger vehicles in 2017, for the first time
surpassing South Africa which produced 331,311 units, according to a
2017 report conducted by IOL.
The
report stated that South Africa, traditionally the continent’s leading
car-producing country, is intimidated by Morocco’s growing production
capacity in the automotive sector.
report stated that South Africa, traditionally the continent’s leading
car-producing country, is intimidated by Morocco’s growing production
capacity in the automotive sector.
In 2017, Elalamy announced Morocco’s intention to exceed
MAD 100 billion in export sales by 2020 and further make MAD 200
billion in exports with a production capacity of 1 million vehicles by
2025.
MAD 100 billion in export sales by 2020 and further make MAD 200
billion in exports with a production capacity of 1 million vehicles by
2025.
