French Automotive Supplier Valeo Inaugurates New Plant in Tangier

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Moroccan Minister Moulay Hafid Elalamy attending inaguration ceremon of Valeo new plant

Rabat – French automotive supplier Valeo has inaugurated a new plant in Tangier’s Automotive City with a budget of €130 million.

Morocco’s Minister of Industry Moulay Hafid Elalamy attended the inauguration ceremony on Friday, along with the Chairman of the Supervisory Board of the Tangier Med Special Agency Fouad Brini and Valeo CEO Jacques Aschenbroich.

The new facility covers an area of 137,000 square meters and will manufacture automotive equipment for its international customers.

About 40,000 square meters have been designated for production, including two buildings. One of them has been in operation since 2017. It produces lighting and wiping systems.

The second building, which begins operation in mid-May, will be dedicated to producing thermal systems including ventilation systems and engine cooling systems.

Morocco’s state-owned news agency said that Valeo is in talks with the Moroccan government to open a third unit.

The company’s new plant will create around 1,000 direct jobs before the end of 2019. The company will hire technicians, engineers, and managers.

Elalamy said that the “Valeo ecosystem has allowed the establishment of five other plants not belonging to this group, to supply parts to Valeo.”

He added that the facility of the group generates a turnover of €76 million and a local integration rate of 64%.

Commenting on the new facility, Aschenbroich said that it is a “great event” for the group as it is an “ecosystem that attracted several subcontractors.”

He also said that the Valeo Group intends to continue developing its investments to bring its gains to €500 million in four or five years from now.

He also applauded the workforce in Morocco, emphasizing that the Tangier site is one of the “few industrial centers belonging to the group that started with a 100% local labor force.”

Brini said that the “quality of human resources and the speed of realization of industrial investment projects are among the assets that strengthen the competitiveness of Morocco.”

He added that the 15 new industrial units are being built in Tanger Automotive City on a total area of 300,000 square meters to create 4,300 jobs.

In addition to aeronautics, the automotive industry is positioning itself as a sector that creates the most direct jobs in Morocco.

In April, Morocco’s Ministry of Industry stated that the North African country has reached nearly 81% of its goal in the Industrial Acceleration Plan (IAP) to offer new job opportunities.

The ministry shared that between 2014 and 2018, industries created 405,496 jobs, 49%of which are held by women.

The automotive industry recorded the strongest rate of job creation. The sector created 116,611 jobs in the time period, representing 28.8%of all new jobs in the time period.

Source: moroccoworldnews.com