RABAT, MOROCCO- The French automobile giant and motorcycles manufacturer, PSA Peugeot Citroen declared to launch an automobile factory in Morocco, having the worth of $632 million having the annual production capacity of 90,000 units.
The plant is going to be commenced in 2019, north Rabat will facilitate the “needs of the region and of Moroccan customers,” as per the statement holds.
An official agreement has been signed between the Chairman, Carlos Tavares and the Industry Minister of Morocco, Moulay Hafid Elalamy, where the King Mohamed VI was also present and the agreement was accomplished at his palace in the capital.
The group to the agreement stated that it will “by 2019 assemble engines and vehicles in the B and C segments” which encompass the compact and mid-sized cars, the major source of income for the company.
It further stated that, “With a capacity of 90,000 engines and vehicles to begin with, this industrial unit will eventually produce 200,000 units a year, when demand requires.”
The industry minister of the country explained that the new factory is going to open the gate for employment, producing 4,500 full-time employment and also indirect employment for 20,000 workers.
The multinational corporation also maintained that it has been working on its commercial ambition which is to manufacture a million vehicles in the Middle East and Africa region by 2025.
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