The Minister of Industry, Trade, Investment and the Digital Economy headed the opening of a new plant of a German principal local and European cable and cable systems provider for automotive and other industries on October 16 in Berrechid.
The new plant has a total area of around 12,000 square meters and its completion entails an investment of € 7.5 million.
The new site will employ 1,800 staff and is expected to generate annual sales forecast of more than EUR 30 million by the end of the year.
The Minister also stressed the importance of the project for Morocco, stressing that it fits perfectly with the plan to build high-performance ecosystems, a key objective of the Industrial Plan 2014-2020 acceleration, launched in April.
Through the launch of its new production plant, Morocco will be able to attract world leaders according to the minister.
It is said that the German group’s decision to choose Morocco for investment is encouraged by political and macroeconomic stability of the Kingdom, the proximity to European and African clients, and the availability of skilled labor.
The German group now has an annual turnover of 200 million euros in Morocco and employs about 6,000 skilled employees operating in several production sites between Casablanca and Bouskoura, Berrechid.