On the sidelines of the Farnborough Air Show in London, Moroccan Minister of Industry and Trade, Moulay Hafid Elalami, has signed on Wednesday two investment agreements with Alcoa, a global leader in lightweight metals technology, engineering and manufacturing, and Aerolia which is a subsidiary of Airbus group. The two agreements are worth 45 million euros and are expected to create 750 direct job opportunities.
Under the agreement signed, Aerolia will invest a total of 40 million euros in a unit in Casablanca. The unit will focus on the assembly of complex aerostructures and large subassemblies. It is expected to create 500 direct jobs and another 500 indirect ones.
The agreement with Alcoa is worth 5 million euros and will contribute to the creation of 250 jobs. The company has acquired the company Demicron in 2009 in Bouskoura near Casablanca and established its unit known as AFS (Alcoa Fastening Systems). The newly signed deal provides for the increase of its industrial activities in Morocco.
The Alcoa group aims to increase its turnover in Morocco over the next ten years through the transfer of new product lines into its facilities in the kingdom.
The aeronautics sector has remarkably developed in Morocco over the past decade. Morocco is currently manufacturing and supplying parts for Airbus, Boeing and Dassault Aviation. Canadian aircraft giants Bombardier have chosen Morocco last year to set up a factory. The aeronautical sector represents 5% of Morocco’s overall exports with a turnover of 800 million euros and employs about 10000 people.
The Moroccan Times.
