Morocco and the giant Nexans group signed two agreements on Thursday involving €100 million as a total investment plan to build the company’s third plant for medium-voltage cable in Morocco by 2026, in addition to its existing facilities in Casablanca and Mohammedia, said Nexans in a press release.
The Moroccan Ministry of Industry and Trade, the Ministry of Energy Transition and Sustainable Development, the Ministry of Investment, Convergence and Evaluation of Public Policies, the National Office of Electricity and Drinking Water (ONEE), and the Moroccan Investment and Export Development Agency (AMDIE) signed the agreements.
This project will create over 200 direct jobs, meet the Group’s standards of excellence–in line with its Industry 4.0 digitalization and sustainability goals–and deliver cables to Africa.
This partnership will help strengthen the development of the renewable energy industry value chain in Morocco and promote technical advancement in the local industrial sector.
“This project, bringing together public and private players, sets out to achieve, from the very start, ecological and human commitments, thereby unlocking significant economic potential for all of Africa,” said Nexan’s CEO Christopher Guérin.
Minister of Energy Transition and Sustainable Development, Leila Benali, Minister of Investment, Convergence and Evaluation of Public Policies, Mohcine Jazouli, the Director-General of ONEE, Abderrahim El Hafidi, and the Director-General of AMDIE, Ali Seddiki all attended the signing ceremony.
With nearly 28,000 employees across 42 countries, Nexans generated 6.7 billion euros in standard revenue in 2022. The Group is a leader in the design and manufacture of cable systems and services across energy production and transmission, distribution, uses, and industry and solutions areas.