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    Project Bank: Signature of 17 Investment Agreements for 857 mln MAD

    12 Nov 2020

    Rabat - A total of 17 investment agreements for a total amount of 857 million dirhams were signed, on Wednesday in Rabat, during a ceremony chaired by Minister of Industry, Trade and Green and Digital Economy Moulay Hafid Elalamy.

    Out of the 17 agreements, 8 were signed in the food-processing sector for carrying out investment projects amounting to 620 million dirhams, which will allow the creation of 1,630 new jobs and the generation of an additional turnover of over 914 million dirhams by 2023.

    These projects concern the creation of industrial food-processing units, particularly in the fishing sector, the dairy industry, the confectionery-biscuit-chocolate factory and in the processing of citrus fruits, fruits and vegetables.

    In the textile and leather sector, 4 memorandums of understanding and 2 agreements with an investment amounting to almost 220 million dirhams were signed. Aimed at the creation of manufacturing units for various products, including clothing fabric and geotextile, cleaning products made from non-woven fabrics and sewing thread, these projects will help create 1,350 new jobs and generate a turnover of more than 354.944 mln dirhams.

    The other three agreements were signed in the industrial sectors of plastics processing, packaging and plasticulture, in addition to the electrical and electronics sector. Worth 17 million dirhams, they are related to the creation of a manufacturing unit for domestic electrical cables, brass fittings and valves, as well as the production of plastic caps, polyethylene pipes and tubes and PVC packaging products.

    These projects will generate 99 new jobs and an additional turnover of over 92 million dirhams.

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