Casablanca - The manufacturing company Simoldes, known as Europe's largest mould maker, is set to invest more than 600 million dirhams in building its first factory in Morocco.
Casablanca – The manufacturing company Simoldes, known as Europe’s largest mould maker, is set to invest more than 600 million dirhams in building its first factory in Morocco.
In an article posted by Moroccan news site Le360, the factory set to be built by Simoldes will take up 10 acres of land and is set to create approximately 300 jobs.
Simoldes’ plan to specifically build a factory in Morocco isn’t surprising as there are many advantages in doing so. For one, a few desired clients like Peugeot-PSA and Renault are also planning to set foot in Morocco.
According to Le360, Simoldes will also benefit from five years of tax exoneration, from getting indirect exporter status and from the implementation of a free trade zone, which should facilitate access to industrial land.
Simoldes is not the only industrial company expected to set foot in Morocco. Delphi Automotive, a global supplier of vehicle technology, is also planning on building 7 industrial units by 2021, creating 13,000 jobs. And Canadian companies are also ready to invest. Linamar, a manufacturer of auto components from Canada, is set to invest 2.6 billion DH in a factory in Morocco.