Morocco has reached an agreement worth 150 million dollars with Shandong Shangang group, a Chinese leader in the steel industry, to install a plant for manufacturing steel pipelines. The unit will cover an area of 14 hectares in Tangiers’ Free Trade Zone.
Moroccan Minister of Trade, Industry, Investment and Digital Economy Moulay Hafid Elalamy noted that this agreement aligns with the strategy implemented in the kingdom to bring in Chinese manufacturers looking for competitive alternatives.
This new production unit is expected to produce 250 000 tons of pipelines per year, which will be exported to Europe and other African countries. It is also expected to create over 220 job opportunities in Morocco.
The Moroccan Times.
