Photo: FADEL SENNA / AFP
Bernard Cambier – Director of Renault on Africa, the Middle East and India (L), Moulay Hafid Elalamy – Moroccan Minister of Industry (C) and Mohamed Boussaid – Moroccan Finance Minister (P)
Ecosystem and the new Renault plant will increase the company sources of supply in parts of the region from 32 to 65 percent and to bring 20 billion dirhams income, told Reuters Moulay Hafid Elalamy.
Renault already has two factories in the country. One modern in Tangier producing cars and car bodies for export and the other, older assembly factory in Casablanca.
– Renault ecosystem means that the company’s factories around in Tangier and Casablanca will be many companies that invest here and will produce components for Renault – the minister said, but declined to give the exact amount of the investment company.
Bernard Cambier, Renault director for Africa, Middle East and India, also declined to give details, but said that at least 15 parts manufacturers have declared participation in the project .
Cambio and Elalamy signed an agreement in the royal palace in Rabat.
Renault factory in Tangiers, the largest in North Africa, requires initial investment of 600 million euros (683.70 million dollars) and is expected to that in the coming years to reach production capacity of 400,000 cars a year.
Morocco expects that the export industry automotive will reach 2020 100 billion dirhams, including last year’s decision by the PSA Peugeot Citroen to build a factory for EUR 557 million, which is expected to produce 200,000 vehicles a year.
In recent years, the country has attracted several large investors, automotive and space, including companies such as Delphi, Bombardier and Eaton Corp.
in contrast to many countries in the region in Morocco, there has been no serious decline in foreign investment after the global financial crisis and the unrest of the Arab spring in 2011, partly because country advertised as an export base for Europe, Middle East and Africa.
Aziz El Yaakoubi
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