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Renault-Nissan to Invest in Morocco

Select — Mon, 21 Jan 2008 16:04:00 +0000

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.

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Renault-Nissan to Invest in Morocco Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Renault-Nissan in Moroccan agreement

Select — Thu, 06 Sep 2007 16:31:00 +0000

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.

Renault-Nissan in Moroccan agreement Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555