The Japanese group Sumitomo plans to launch nine industrial projects in Morocco in the manufacturing activities of cabling and components for a total investment amount of 1.96 billion DH.
To materialize this ambition, a framework agreement was signed on December 21 in Rabat between the Ministry of Industry and Trade and the Sumitomo group. The objective is to strengthen the dynamics of the Moroccan automotive ecosystem through the implementation of these 9 new projects in different regions of the Kingdom, including Rabat-Salé-Kénitra, Tangier-Tétouan-Al Hoceima and Casablanca-Settat, with the creation of 16,000 new direct jobs by 2028. We learn that in this respect, a first investment project of 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 dirhams (MDH) will create more than 4,500 jobs.
Read also | Managem consolidates its position in Africa with new acquisitions
For the Minister of Industry and Trade, Ryad Mezzour, with this new investment from the Sumitomo group, the Moroccan automotive platform confirms its attractiveness to global suppliers, thus allowing us to continue to generate employment for our young Moroccans. “This demonstrates once once more the great confidence placed by investors in our ecosystem since they do not hesitate to invest and reinvest,” added the minister, emphasizing the importance of the Moroccan automotive sector and its position. strategic in the national economy in terms of job creation and exports.
For his part, the Chief Executive Officer (CEO) of Sumitomo-SEBN Morocco, Adil Semrich, pointed out that the signing of this framework agreement will make it possible to expand and diversify the group’s activity in several regions of Morocco. He also expressed the group’s confidence in the Moroccan skills capable of deploying this project, and others in the years to come, with a view to strengthening the competitiveness of this company.
Read also | Bank Al-Maghrib raises its key rate to 2.5%
As a reminder, the Sumitomo Electric Industries group is a leading automotive supplier specializing in the production of wiring harnesses, electronic components and communication systems. Sumitomo has been present in Morocco since 2001 through 4 subsidiaries: SEWS MFZ, SEWS MAROC, SEBN, and SEWS CABIND.