This investment reinforces the dynamics of the Moroccan automotive ecosystem through the implementation of nine new projects in different regions of Morocco.
December 21, 2022 at 5:05 p.m.
Modified December 21, 2022 at 5:31 p.m.
This investment reinforces the dynamics of the Moroccan automotive ecosystem through the implementation of nine new projects in different regions of Morocco.
A framework agreement relating to the development of industrial projects in the manufacturing activities of cabling and components was signed, Wednesday, December 21, 2022 in Rabat, between the State and the Sumitomo group, during a ceremony chaired by the Minister of l ‘Industry and Commerce, Ryad Mezzour.
This agreement strengthens the dynamics of the Moroccan automotive ecosystem through the establishment nine new projects in different regions of Morocco, including Rabat-Salé-Kenitra, Tangier-Tetouan-Al Hoceima and Casablanca-Settat, said a press release from the ministry. It covers an overall investment amount of 1.965 billion dirhams and will allow the creation of 16,000 new jobs straight on the horizon 2028.
As such, a first investment project under this framework agreement will be deployed by the group’s SEBN subsidiary in Bouknadel, with the establishment of a new industrial unit dedicated to the manufacture of electrical harnesses. This investment agreement for an amount of more than 320 million DH will allow the creation of more than 4,500 jobs.
The Japanese group Sumitomo Electric Industries is an automotive supplier specializing in the production of wiring harnesses, electronic components and communication systems.
The group employs more than 272,000 people across more than 400 production plants spread over five continents. Sumitomo has been present in Morocco since 2001 through four subsidiaries: Sews MFZ, Sews MAROC, SEBN and Sews CABIND. It employs nearly 30,000 people.
