Morocco has singed eight investment agreements with international automakers to enhance the supply of electrical wiring systems in the country.
With a total value of $179 million (MAD 1.7 billion), the deals were signed with Yazaki, Sumitomo Group, Lear, Stahschmidt Cable Systems and TE Connectivity, the Moroccan industry and trade ministry announced March 24.
The move, according to minister Riad Mazour, aims to localize the manufacturing of electrical conductors, cable and cable bundle terminals for electric cars as well as plastic and other precision parts.
The deals include three agreements with Yazaki Group to establish a factory for the production of electric wires for cars in Meknes and to expand units in Kenitra and Tangiers.
With a total investment of $77.8 million, the projects are expected to create 6,300 jobs.