Eight investment agreements were signed on Thursday, March 24, 2022, by the Minister of Industry and Trade, Mr. Ryad Mezzour, with the international automotive suppliers Yazaki, Sumitomo, Lear, Stahlschmidt and TE Connectivity for an amount total of 1.7 billion dirhams which will create nearly 12,000 direct jobs.
The eight investment agreements are part of the development of deep integration and the move upmarket of the cabling ecosystem, through the localization of connectors, terminals, cables for electric vehicles, plastic parts and other precision mechanics and automation trades.
“These projects are a strong indicator of the attractiveness and resilience of the national automotive platform which has succeeded, despite the difficult global context, in maintaining its competitiveness, retaining the loyalty of world leaders in the sector, but also in quickly recovering its vitality. during this economic recovery, thanks to the relevance of the Enlightened Vision of His Majesty King Mohammed VI, may God assist him,” said Mr. Mezzour.
And to emphasize the importance of anchoring the cabling sector as one of the biggest providers of employment and added value in the sector: “With our partners, we have worked, to this end, on an ecosystem relating to technological professions requiring highly qualified skills; the objective being to offer our engineers and technicians the opportunity to develop, within engineering centers in Morocco, the electrical architecture of tomorrow’s vehicles”.
Three agreements have been signed with the Yazaki Group for the construction of an automotive wiring production plant in Meknes and the extension of its units in Kenitra and Tangier, totaling an investment amount of 751 MDH, generating 6,300 jobs.
An agreement has been signed with the Sumitomo Group for the extension of its electrical harness production unit in Casablanca for an investment amount of 146 MDH, which will create 2,000 jobs.
Two agreements, signed with the Lear Group relate to the construction of two factories, one in Tangier, for the manufacture of terminals and connectors and the other in Meknes, dedicated to the production of automotive electrical harnesses and cables, a total amount of 346 MDH with the key 2162 jobs.
The other two investment projects concern the construction of a molding and assembly plant for connectors by TE Connectivity in Tangier for a total amount of 202 MDH which will create 350 jobs and a production plant for Bowden cables. and unlocking systems by Stahlschmidt in Tangier for an amount of 107MDH generating 1075 jobs.
