The global company CITIC DICASTAL, specialized in manufacturing aluminum alloy wheels and other aluminium parts for the automotive industry, has inaugurated its first African factory in Kenitra, Morocco.
Rabat – The new factory CITIC DICASTAL AFRICA is a Morocco-China industrial cooperation project. It is a synergy of China’s global development strategy “One Road, One Belt” program, which involves Chinese investments into infrastructure development across the world, and Morocco’s strategy to accelerate its industrial capacity.
The MAD 3.8 billion ($400 million) factory has an annual production capacity of 6 million pieces, and will supply parts to the French car manufacturing giant PSA Group.
PSA Group, which produces vehicles under the brands Peugeot, Citroen, DS, Opel and Vauxhall, inaugurated its own factory in Kenitra last week. Worth MAD 6 billion ($620 million), it is set to produce 200 000 vehicles per year by 2020.
The Moroccan Minister for Industry, Moulay Hafid Elalamy, inaugurated the CITIC DICASTAL factory on Wednesday, in the presence of the vice-president of CITIC DICASTAL Wang Jiong, the director of DISCASTAL Morocco, Badr Lahmoudi and the Chinese ambassador to Morocco Li Li.
“With this investment with high added value, DICASTAL brings to Morocco a pioneer technological speciality, as well as expertise and knowledge of strong technological value, supporting a competitive and performing automobile industry,” Elalamy stated at the inauguration.
The factory will initially employ 420 people, and up to 1200 people in the long term.
The Chinese ambassador Li Li noted that the factory is one of the largest Moroccan-Chinese cooperation projects.
CITIC-DICASTAL has factories across Europe, North America and China. It supplies parts to major car companies including Volkswagen, BMW, Renault-Nissan, Fiat, Chrysler Automotive, Peugeot, Toyota and Audi.