The €16 million investment will increase LAND’OR production to better serve the Moroccan market.
Rabat – Morocco’s Minister of Industry, Moulay Hafid Elalamy, signed an investment contract yesterday with the president of Tunisian dairy firm Land’Or, Hatem Denguizli, to open a plant in Kenitra.
Elalamy announced the new agreement on Facebook, saying it will create 102 direct job opportunities.
“The signing of an investment agreement with Mr. Hatem Denguizli, President of the Land’Or Group, which will invest 102 million dirhams in order to establish a cheese factory in Kenitra, will enable the creation of 102 direct jobs,” announced Elalamy.
Rather than exporting products from Tunisia to Morocco, Land’Or will serve the Moroccan market on the ground. In 2019, Moroccan consumers represented 28% of Land’Or’s turnover.
Previous reports indicated that the plant will be operational in the first quarter of 2021.
The plant requires an investment of €16 million and will cover an area of 3,300 square meters on a 1.3-hectare plot.
The company secured €10 million for the project in May 2019 while Tunisia’s Central Bank will fund the remaining €6 million.
The plant will specialize in manufacturing canned cheese, melting cheese, and fresh cheese.
The CEO of the company said in June 2019 that the firm will start ordering industrial equipment valued at €5.2 million this year.