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Rabat – The Mohammed VI Tanger Tech city will host two large scale industrial projects, representing a total investment of $910 million.
President of the Tanger Tech Development Company (SATT), Othman Benjelloun signed the agreements on Tuesday in the presence of several industrial operators, including Fouad Brini; president of the Tanger Med Group, Omar Moro; president of the Council of the Tanger-Tetouan-Al Hoceima Region, in addition to Cao Jiangu; president of Hailiang, and Pi Tao; president of Shinzoom.
In a press release, SATT said the agreements represent a “major turning point in the Moroccan automotive ecosystem, with the Kingdom, welcoming the first industrial copper operator, through the Hailiang Group, and the first anode operator, Shinzoom Company.”
The company further stressed the importance of the projects, which position the Mohammed VI Tanger Tech City as a hub of excellence and opportunities for international industrial companies operating in competitive and globalized sectors in line with King Mohammed VI’ vision.
The first project concerns Hailiang, whose investment will span over an area of 30 hectares, incliving $450 million , starting from 2024.
The company, which is based in Zhuji, Zhejiang province in China, will create 1,800 jobs. The company is specialized in the production of automotive copper parts such as pipes, bars, and pipe fittings.
The second project from Shinzoom, will span over an area of 20 hectares for an investment of $490 million. The project will start this year and seeks to create 2,000 jobs.
The company, which generated revenues of $1 billion, specializes in production of anodes for lithium batteries.
SATT is a result of a partnership between Bank of Africa, Tanger med Special Agency, and the Regional Council of Tanger-Tetouan-Al Hoceima in association with the China Communications Construction Company.
According to the statement, SATT’s mission is to develop the innovative project of the Mohammed VI Tanger Tech City.
Chinese companies and representatives from Moroccan public and private sectors signed an additional agreement to launch the Mohammed VI Tangier Tech City Project in 2022.
The “smart city” was launched by King Mohammed VI in 2017, with the aim of hosting industrial companies to create a sustainable, integrated, and intelligent industrial city.
Morocco’s Minister of Industry and Trade Ryad Mezzor described the project in 2022 as an industrial megapole, which “undeniably supports the national industrial strategy and thus strengthens Morocco’s attractiveness and competitiveness on the international level.”
Morocco has been investing heavily on its industrial sectors, particularly in automotive and aeronautics.
The country’s geostrategic location makes the country both a gateway to Africa and Europe – a key aspect in attracting industrial companies from across the world.
