Rabat – Nexans signed today two Memorandums of Understanding (MoU) in collaboration with the Moroccan government for the creation of a third medium-voltage power cable plant, Nexans stated in a press release.
These agreements cover an investment project up to 2026 valued at 100 million euros in total.
The singing partners included the Ministry of Industry and Commerce, the Ministry of Energy Transition and Sustainable Development, the Ministry of Investment, Convergence and Evaluation of Public Policies, the National Office of Electricity and Drinking Water (ONEE) and the Moroccan Agency for Investment and Export Development (AMDIE).
The third project, which is already underway in Mohammedia and Casablanca, intends to further underline Nexans’ dedication to the energy transformation in Morocco and across Africa.
The Project aims to make cable supply in Africa easier.
In addition, it will facilitate the supply of cables in Africa and generate over 200 direct jobs, uniting the Group’s standards of excellence in the areas of cutting-edge innovation and 4.0 digitization for sustainable energy resources.
This project is in accordance with King Mohammed VI’s High Instructions, which place Morocco at the forefront of the deployment of renewable energy infrastructure in the area and on the continent. The ultimate goal of these initiatives is to strengthen the industrial ecosystem that is connected to the sector in the years to come.
Through this structuring project, Morocco and Nexans are working together to promote the growth of the renewable energy value chain in the Kingdom and to further refine the regional industrial fabric.
Read also: Nexans Group Opens Photovoltaic Power Plant in Morocco’s Mohammedia
Christopher Guerin, Nexans’ Managing Director, said he was delighted with the signing of the MoU, saying that the deal will consolidate the 75 years of Nexans’ presence in the North African country.
“Once again, I commend Morocco’s outstanding leadership in bringing the benefits of sustainable electrification to all,” Guerin said.
The signing of the Memorandums of Understanding (MoU)
By combining human and environmental objectives from the outset, this project, which involves both public and private stakeholders, will unleash significant economic potential for the entire African continent, according to Guerin.
For her part, Managing Director of Nexans North and West Africa, Selma Alami stated that this initiative is central to the tenets of the King’s agenda, which was restated in March of last year.
“I would like to express my praise for the support of the Ministries, which made this agreement possible. We are proud to strengthen our presence in Morocco,” she concluded.
