A Memorandum of Understanding for the installation of a cactus oil extraction unit in the province of Sidi Ifni was signed by Morocco and Japan last October 13, 2014 in Rabat.
The agreement, signed at a ceremony presided over by the Minister of Agriculture and Maritime Fisheries, together with the Ambassador of Japan to Morocco and the Governor of the Province of Sidi Ifni, has to do with the installing a oil extraction unit for cacti whose capacity is estimated at 5,000 liters per year by 2016.
It is said that through this project, the 40,000 ha of cactus produce 230,000 tons of oil annually recovered through the extraction of oil from the cactus. This development project in the area of Ait Baamrane, Sidi Ifni will be conducted as part of a public private partnership with a Japanese company which invest in Morocco for the enhancement of its local product.
According to the Japanese Ambassador to Morocco, the nature of this cooperation go far beyond the traditional classical setting, adding that the Japanese company, in direct contact with cooperatives of Moroccan women in the rural areas, aims to create jobs for a win-win cooperation.
The Director General of the Agency for Agricultural Development said that this unit will complement the value chain of a major project pillar development implemented in part of the Green Morocco Plan for a total investment of 81 million dirham or $ 9 million for 27,000 farmers.