Reuters
by Aziz El Yaakoubi
French carmaker Renault and component suppliers will invest 10 billion dirhams ($1 billion) in Morocco to build an ‘industry ecosystem’, the country’s industry minister said on Friday.
New plants will raise Renault’s local sourcing of components to 65 percent from 32 percent currently and are projected to generate 20 billion dirhams in revenues, the minister, Moulay Hafid Elalamy, told Reuters in an interview.
Renault has two car plants in the kingdom, a modern plant producing cars and body pressings for export, and an older assembly plant near Casablanca.
(Reporting By Aziz El Yaakoubi; Editing by Greg Mahlich)
