Rabat - The Japanese manufacturer and world's largest supplier of power-assisted steering systems, JTEKT, announced on June 28 that it will launch its first MENA region production site in Tangier Med.
Rabat – The Japanese manufacturer and world’s largest supplier of power-assisted steering systems, JTEKT, announced on June 28 that it will launch its first MENA region production site in Tangier Med.
On an area of 6.5 ha, JTEKT Automotive Morocco will produce components and assemble power systems in a 11,000 m² factory located within the Tangier Automotive City Free Zone. This plant will allow the direct supply of the two automakers installed in Morocco, namely Renault and PSA, in parallel with other manufacturers and export markets.
“The project will be developed in the Tangier Automotive City area with a start-up in 2018,” announced a statement issued by the Tanger Med Special Agency (TMSA). The first phase of the project involves the installation of an initial production capacity of 230,000 units per year and a corresponding investment of EUR 15 million.
The presence of the Japanese group in Morocco, which now has 136 subsidiaries in 27 countries around the world, “further strengthens the competitiveness of the automotive sector firmly established within Tanger Med,” explained TMSA.
Tangier Med currently counts more than 80 active Original Equipment Manufacturers, which generated around EUR 5 billion of exports in 2016. With 44,000 employees across the globe, JTEKT generated a turnover of EUR 11 billion in 2016.
The group plans to hire 60 people in the first phase, and up to 200 people for the long term. JTEKT’s European office president commended the location of Tangier saying it was “a tremendous gateway to the African and Middle Eastern markets, where growth will be sustained.”