Renault-Nissan to Invest in Morocco
An accord has been signed by Renault-Nissan with the Moroccan government for what it says will be one of its largest automobile-making operations in the world.
"Renault-Nissan's Tangiers-Med industrial complex, with an investment of 600 million euros (879 million dollars), will have a capacity of 200,000 vehicles by 2010, which should then double," said Christian Esteve, director of Renault-Nissan for the Euro-Mediterranean zone.
According to a company statement issued in September when the initial agreement was signed, almost 6000 direct jobs and 30,000 indirect jobs will be created by the factory.
Renault is already present in Morocco with its 80 percent subsidiary Somaca, which holds 30 percent of the Moroccan market.
Morocco Property News