Africa > North Africa > Morocco > Siemens to Invest MAD 1.1 Billion in Tangier’s Automotive City

Morocco: Siemens to Invest MAD 1.1 Billion in Tangier’s Automotive City

2016/01/05

German company Siemens plans to build an industrial unit to manufacture wind turbine blades in Morocco’s Tangier’s Automotive City (TAC).

The engineering giant will begin construction of the new plant in March 2016 for an estimated cost of MAD 1.1 billion, according to the Regional Investment Center (CRI).

The wind turbine blade facility will cover an area of 13 hectares with a production capacity of 600 blades per year and is expected to employ 670 people, L’Economiste reported in its Monday issue.


“It is a pride for the region to host a project of this scale, not only in terms of cost of investment and job creation but particularly in terms of acquiring expertise in a specialized field as is that of renewable energy,” CRI Director Oumar Chräibi told the same source.

Siemens is part the companies short-listed for the construction of wind farms totaling 850 megawatts of power productions.

The German company’s new plant at Tangier Med’s TAC is scheduled to be in operation by February 2017, the daily noted.
The German multinational has been established in Morocco for 56 years, contributing to technological and social developments and economic increase.

According to Siemens Morocco, the enterprise operates in several domains such as “transportation, metallurgy, energy transmission and distribution, software design and production, renewable energy and healthcare”.

Related Articles
  • Morocco bans bitcoin transactions

    2017/11/29 Currency regulator announces ban on transactions in bitcoin, other virtual currencies one week next Moroccan digital services company said it would accept payment in bitcoin. Morocco's currency regulator has announced a ban on transactions in bitcoin and other virtual currencies, in a country where foreign exchange flows are tightly controlled. "Transactions via virtual currencies constitute a breach of regulations, punishable by penalties and fines," the Offices des Changes said in a statement on its website.
  • Morocco prays for rain as shortage threatens agriculture

    2017/11/27 The king of Morocco called for all mosques in the country to pray for rain on Friday, amid a shortage threatening the country’s agriculture. King Mohammed VI had issued a royal decree asking Moroccans to “to implore the Almighty to spread his benevolent rains on the earth”. The lack of rainfall is hindering the country’s seasonal cereal production. Before this month 15 people were killed in stampede for food aid, as costs have risen amid shortages.
  • Namibia Scraps Visas for Africans

    2017/11/01 Namibia has gotten the ball rolling on plans to scrap visa requirements for African passport holders next Cabinet authorised the implementation of this process - to be carried out in line with diplomatic procedures. Namibia will any minute at this time start issuing African passport holders with visas on arrival at ports of entry as a initial step towards the eventual abolition of all visa requirements for all Africans.
  • Africa: Experts Explore Infrastructure and Cooperation to Improve Lives

    2017/11/01 Addis Ababa — African economies require structural transformation to attain sustained increase that trickles down to all its peoples, an official from the United Nations Economic Commission for Africa (ECA) told experts gathered at the organization’s Ethiopian headquarters. Soteri Gatera, who heads the ECA’s Industrialization and Infrastructure Section, says only such “inclusive” economic increase will help resolve the “persistent social economic problems” Africa faces.
  • Africa's last international banks make their stand

    2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.