Industry – King launches 26 Industrial Investments in Automotive Sector with 13.78 bln dirhams

Morocco’s King Mohammed VI chaired on Monday at Casablanca royal palace the launching ceremony of 26 industrial investments in the automotive sector with a total budget of 13.78 billion dirhams, the MAP news agency reported.

These new investments attest to the strong positioning of the Kingdom’s industrial sector in high value-added activities, as well as the confidence of top international operators in the national industrial program, it said.

They also attest to the change of industrial dimension in the Kingdom, which is turning towards a solid economic model, it added.

At the beginning of this ceremony, an institutional film was screened, highlighting the development of the national automobile industry in recent years, notably thanks to the industrial acceleration plan, launched in April 2014, as well as the accompanying measures taken, particularly in terms of training, for an optimal implementation of this ambitious plan.

Afterwards, minister of industry, investment, trade and digital economy, Moulay Hafid Elalamy, said that the development of the industrial sector, in general, and of the automotive industry, in particular, is the result of the vision put in place under the leadership of HM the King.

“The Industrial Acceleration Plan and the ecosystem approach are real levers for the industrial acceleration,” he added, noting that the 26 investments launched in the automotive industry are introducing new specialities in Morocco and reinforcing local integration.

These investments will create 11,568 direct jobs, Elalamy pointed out, adding that the launch of these investments will enable the production of aluminium wheels, dashboards, bumpers, seats and electromechanical boxes.

Of the 26 investments, six projects are part of the implementation of the Renault Ecosystem, which is developing a global supply platform in the Kingdom.

Thanks to this large-scale ecosystem, the manufacturer is currently supplying machined parts worth one billion euros a year from Morocco and achieves a local integration rate of 55%.

Thirteen investments will be made within the framework of the PSA Peugeot Ecosystem, which is giving a fresh boost to the sector as a whole and helping to create an industrial pole of excellence in Kenitra.

Five other investments are part of the Ecosystem “Wiring and Connection”, launched in October 2014, while two investments will be launched within the framework of the Valeo Ecosystem.

These ecosystems enabled the creation of more than 80,597 jobs, i.e. 90% of the target by 2020. In 2016, they generated an export turnover of 60 billion dirhams, an increase of 50% compared to 2014.

On this occasion, the Sovereign King chaired the signing ceremony of five documents relating to these 26 investments in the sector of the automobile industry.

The King was then greeted by Marc Nassif, managing director of Renault Morocco Group, Jean Christophe Quemard, executive vice president of PSA Peugeot Group for Africa and the Middle East, Jean Luc Di Paola, Vice President of Valéo Group, and Hakim Abdelmoumen, Chairman of the Moroccan Association for Automotive Industry and Trade (AMICA).

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More