Morocco Signs $800 Million Investment to Build Polysilicon Plant in Tan-Tan

Rabat – Morocco signed this weekend a major investment agreement in Tan-Tan to establish a new industrial unit for the production of polysilicon, a key material for solar panels. 

The project, with a planned investment of MAD 8 billion (about $800 million), is expected to create 1,500 direct jobs and more than 2,000 indirect jobs. The plant will have an annual production capacity of 30,000 tons, 85% of which will be exported to international markets.

The agreement was signed by Karim Zidan, Morocco’s Delegate Minister for Investment and Policy Evaluation, and Philip Jenkins, CEO of the American company GPM Holding.

Classified as a strategic project by Morocco’s National Investment Committee in February 2024, the polysilicon plant aligns with the country’s national strategy for renewable energy. 

It aims to strengthen industrial value chains related to solar energy, particularly the manufacturing of solar panel components, and position Morocco as a key player in the global energy transition.

Alongside the investment agreement, officials signed a cooperation protocol between the Ministry, the region of Guelmim-Oued Noun, the Tan-Tan province, and GPM Holding. 

The agreement focuses on local support for the project, boosting economic integration, developing a regional industrial ecosystem, and training young talents in coordination with educational and specialized institutions.

According to the Ministry of Investment and Policy Evaluation, the initiative reflects the directives of King Mohammed VI to promote productive investment that creates jobs and reduces regional disparities. It also contributes to the broader development momentum in Morocco’s southern provinces.

This is the first major industrial project of its kind in Tan-Tan, marking a milestone in Morocco’s efforts to invest in the southern regions in recent years. The government has been actively supporting initiatives in the three southern regions to promote local development, create jobs, and strengthen the economic role of Morocco’s southern provinces.