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Nexans to build cable plant in Morocco

Nexans announced that it has signed two memorandums of understanding with the Moroccan government for a new cable plant in Morocco that would open in 2026.

A press release said that Nexans signed the agreements with the Moroccan Ministry of Industry and Trade, Ministry of Energy Transition and Sustainable Development, 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).

The project, which calls for a €100 million total investment plan, would be the company’s third plant for medium-voltage cable in Morocco, the others being in Casablanca and Mohammedia. The project is expected to create more than 200 direct jobs and will benefit from the backing of the Moroccan Ministries, the ONEE and the AMDIE. The project will meet the Group’s standards of excellence, in line with its Industry 4.0 digitalization and sustainability goals and will deliver cables to Africa.

“Once again, I commend Morocco’s outstanding leadership in bringing the benefits of sustainable electrification to all,” said Nexans CEO Christopher Guérin. The project is aligned with the desire of King Mohammed VI, the current leader in the region and across Africa, for deployment of renewable energy infrastructure.

The release said that Morocco aims to consolidate the entire industrial ecosystem in the years to come. The described transformative project will strengthen the development of the renewable energy industry value chain in the Kingdom and to promote technical advancement in the local industrial fabric.

Guérin said that he was pleased to see this latest step in the country, where Nexans has been operating for more than 75 years. “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.”

Read 297 times Last modified on January 4, 2024

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