17 agreements signed to boost the automotive and aeronautical sectors

Seventeen agreements on investment projects totaling DH 2.4 billion (MMDH), and which create 14,230 jobs, were signed in Rabat on Thursday as part of the of industrial ecosystem program launched to boost the automotive and aeronautical sector.

These investment agreements, which are expected to generate a turnover of 7.62 MMDH, were signed by the Minister of Industry, Investment, Trade and the Digital Economy, Moulay Hafid Elalamy, and by the managers of the companies involved in these projects, 14 of which are in the automotive sector and 3 in the aeronautics industry.

New specializations and techniques, such as cataphoresis or casting, will be introduced in Morocco, which will strengthen local integration and double productivity, Elalamy told the press.

Pioneering projects that add value to the local value chains are taking shape in the automotive sector with China's Xiezhong, which will manufacture air conditioning systems, which will specialize in surface treatment and Lear Corporation Automotive, already present in Morocco, Which develops new technologies in embedded electronics.

The other projects launched in the automobile concern fast-growing sectors such as tempered glazing, metallic structures or even hydraulic subassemblies.

On the aeronautics, Figeac Aero is established for the first time in Morocco and will be specialized in assembling aeronautical parts and surface treatment to serve Airbus and Bombardier. With a budget of nearly MAD 289 million, this project will create a total of 535 jobs.