Renault-Nissan in Moroccan agreement
Renault-Nissan has signed a preliminary deal with the Moroccan government to build a manufacturing complex in northern Morocco with a capacity of producing 400,000 cars a year.
The French car firm and the North African kingdom will conduct a feasibility study for the plant; Renault-Nissan plans to invest a total of €411 million in the project and surrounding complex.
The complex would create 6,000 jobs and have an initial capacity of 200,000 vehicles a year in 2010, before eventually expanding to 400,000. The proposed factory would make low-cost Logan cars and other vehicle for Renault, Nissan and Romanian affiliate Dacia.
Moroccan King Mohamed presided over the signing ceremony between Moroccan Prime Minister Driss Jettou and Renault-Nissan CEO Carlos Ghosn.