MOROCCO – Japanese Corporations Yazaki, which makes car components, and Sumitomo Electric Industries are planning to build four plants in Morocco for a US$103 million investment. These plants will create 8300 jobs and support Morocco’s car industry.
The two Japanese groups signed separate agreements with Moroccan authorities in a ceremony chaired by Minister of Industry and Trade Moulay Hafid Elalamy.
Under terms of the sealed deal, Yazaki has pledged to invest US$52.2 million for the expansion of its activities in Morocco through the setting up of three new plants in Tangier, Kenitra and Meknes, to employ a total of 6300 skilled workers.
“Morocco is continuing to achieve this strategic goal by improving the level of deep integration of our industrial systems, and a shift towards industrial production devoid of carbon.”Moulay Hafid Elalamy – Minister of Industry and Trade, Morocco
For its part, Sumitomo, a leader in wiring systems, will launch its 5th plant in Casablanca to meet the needs of its local and international customers. The Japanese group will invest over US$51 million in the new industrial unity to create 2000 jobs.
These new investments show the resilience of the Moroccan industrial sector and trust of world industrial leaders and businessmen in Moroccan production platforms, said El Alamy.
Thanks to the royal guidance and leadership, Morocco is on the verge of becoming the most competitive automotive hub in the world, added the minister.
“We intend to continue this momentum by improving the deep integration of our ecosystems and decarbonizing industrial production,” Elalamy said.
Echoing the study’s findings, Elalamy stressed that “Morocco is continuing to achieve this strategic goal by improving the level of deep integration of our industrial systems, and a shift towards industrial production devoid of carbon.”
The Yazaki group is operating in Morocco since 2000. It has a plant in Tangier employing 4650 people, two in Kenitra employing 4200 workers and a fourth in Meknes employing 4000. Its turnover in Morocco exceeds annually US$586 million.
The Sumitomo Corporation is present in Morocco since 2001. It has three subsidiaries: Sews MFZ, SEBN and Sews Cabind. With 25,000 jobs created, this group is the 1st employer in Morocco. Its Sews Cabind Company employs more than 6300 workers in its 4 production units, including 2 in Ain Harrouda, 1 in Casablanca and another in Berrechid.
Morocco hosts production plants for French carmakers Renault and PSA, which have encouraged investments by car part suppliers.
The automotive sector tops Morocco’s exports despite a drop of 10% to US$6.6 billion in the first 11 months of last year due to the coronavirus pandemic.
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