Madrid - Morocco has become a regional hub for the car industry with the setting up of a new PSA Peugeot-Citroen plant in the Kingdom, said on Tuesday Spanish news agency "Efe".
Madrid – Morocco has become a regional hub for the car industry with the setting up of a new PSA Peugeot-Citroen plant in the Kingdom, said on Tuesday Spanish news agency “Efe”.
This project, which mirrors French enterprises’ trust in Morocco, reinforces the Kingdom’s industrial fabric and will increase the exports of the car industry, which has become, over the past three years, one of the country’s main exporters, wrote the agency, recalling that the Moroccan automobile industry posts a yearly growth of 26%.
With this new plant, whose building works will start in 2016, Morocco will become the first car manufacturer in North Africa and will position itself in the international automobile industry, it added.
The project, which will be operational in 2019, will generate some 4,500 direct jobs and 20,000 indirect ones and will boost the R&D sector with 1,500 engineers and technicians, wrote the agency, noting that this plant will produce 200,000 cars yearly (segments B and C).
According to Efe, this complex, which is the second in Morocco, will enable the French PSA Peugeot-Citroen group to conquer new alternative regional markets in the Middle East and Africa.