Rabat, Morocco (TMT)-As part of King Mohammed VI’s last week official visit to China, and in line with Morocco’s commitment to beef up its automotive industrial capacity to stay on the leading edge of this industry in the world, Chinese industrial companies Yangxi and Energy Investment Company, in cooperation with the Industrial and Commercial Bank of China, among other partners, signed a cooperation agreement to open a plant for the manufacturing of new-energy and clean-fuel buses in Morocco.
The total amount of the investment will hover around US$ 1.2 billion.
It is not yet clear where the plant will be located, though Tangier and Kenitra emerge as best candidates to host the plant thanks to their cutting-edge industrial zones.
The Moroccan government is aiming to benefit from China’s government recently launched program of the electrification of buses in public transport fleets.
There are currently several government programs, pilot projects and R&D activities taking place in China with the aim to replace conventional buses with environment friendly electric buses.
The investment goes in line with Morocco’s integrated national policy to tackle the effects of climate change and cut greenhouse gas (GHG) emissions by 32% by the year 2030.
The Moroccan Times.