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©Reuters. Stellantis invests 300 million to double its production in Morocco
Rabat, Nov 10 (.).- The automobile manufacturer Stellantis will invest 300 million euros to double the production capacity of its plant in Kenitra, in western Morocco, with the aim of producing 450,000 vehicles per year.
The investment was made known during a meeting in Rabat between the President of the Moroccan Government, Aziz Ajanuch, and the boss of the automobile consortium, Carlos Tavares, accompanied by the director of operations for the Middle East and North Africa of the group, Samir (CSE:) Cherfan.
According to a statement from the Presidency of the Government, this new investment will help create 2,000 jobs, and increase the annual production capacity of the Moroccan plant to 450,000 thermal and electric cars.
“At the meeting, Ajanuch recalled the king’s guidelines to attract foreign investment and improve the business climate, stressing that the current government has taken several measures in this regard, such as the promulgation of the new Investment Pact,” the statement read.
Also present at this meeting were the Minister of Industry, Ryad Mezzour, and the Delegate Minister in charge of Investment, Mohcine Jazouli.
The Stellantis plant in Kenitra, which was inaugurated in June 2019 by King Mohammed VI, currently employs more than 3,000 people with a local integration rate of 69%.
According to the latest figures from the Ministry of Industry, car exports in Morocco between January and August reached 66.7 billion dirhams (6.1 billion euros), which represents an increase of 29% compared to last year.
This figure confirms the automotive sector as the leader of industrial exports from the Maghreb country for the eighth consecutive year.
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