Skip to content Skip to Search
Skip navigation

Japan to invest $187m in Moroccan automotive industry

By Gavin Gibbon
Car, Factory, robot Reuters

Japanese group Sumitomo is to invest MAD1.965 billion ($187 million) in nine industrial projects across Morocco to boost the North African country’s automotive ecosystem.

Regions set to benefit from the investment in the manufacturing of wiring and components include Rabat-Salé-Kenitra, Tangier-Tetouan-Al Hoceima and Casablanca-Settat. Some 16,000 jobs are expected to be created by 2028.

The first project will be led by the group’s subsidiary SEBN, in Bouknadel, with the construction of an industrial unit dedicated to manufacturing electrical harnesses. The MAD320 million ($30.5 million) investment will see the creation of 4,500 jobs.

Ryad Mezzour, Morocco’s minister of industry and trade, said: “With this new investment by the Sumitomo group, the Moroccan automotive platform confirms its attractiveness to global suppliers, allowing us to continue to generate employment for our young Moroccans.”

According to EOS Intelligence, Morocco is one of the leading automotive manufacturing hubs in Africa, with the capacity to produce over 700,000 vehicles per year and around 220,000 people employed in the sector.

In July Morocco, announced plans to ink a deal with several electric vehicle (EV) battery manufacturers to construct a huge production facility in the kingdom by the end of this year.

At the time Mezzour described the proposed facility as a “gigafactory” – a term that has become synonymous with Tesla’s $2 billion production plant in Shanghai that was built to manufacture 500,000 EV batteries each year.

However, the minister declined to identify the manufacturers or the total capacity of the proposed site.

As well as this partnership with Morocco, Japan’s Sumitomo is also working on a project with Dubai-based Amea Power to deliver 1 gigawatts of wind and solar energy projects in Egypt.

Latest articles

Flooding in Dubai affected many people's homes. Emaar has promised .free repairs for its residents, and an upgraded sewerage system is planned

Emaar promises free repairs as Dubai launches sewerage system

Emaar Properties is offering free repairs to residents whose homes were damaged during this week’s extreme flooding, as Dubai also announced a AED80 billion ($22 billion) sewerage system, following a review of infrastructure ordered by the UAE president. The developer, which is listed on the Dubai stock exchange, announced on Friday it would repair all […]

A customer paying with a credit card inside the Black Friday Market in Beirut. Lebanon wants more people to move away from cash

Lebanon launches plan to promote use of bank cards

Lebanese central bank Banque du Liban announced a new agreement on Thursday that it hopes will result in a rebound in the use of bank cards. As part of the agreement, Mastercard and Visa will lower card fees on transactions, particularly for people with bank accounts based outside Lebanon. In a press release, the bank […]

Construction work in Kuwait. Nurseries, schools and shops are being built for the new residential district of Al Metlaa

Kuwait signs $140m contracts for Al Metlaa development

Kuwait’s Public Authority for Housing Welfare (PAHW) has signed two contracts worth KD42 million ($140 million) to construct public buildings in Al Metlaa, a new residential district north of Kuwait City. Nurseries, stores, schools and shops will be included, state news agency Kuna reported. Electricity connections have been provided for 109 buildings in the district, […]

Iraq gas oil

Iraq to auction 30 oil and gas projects this month

Iraq will auction 30 new oil and gas projects in two licensing rounds before the end of April. The bidding round will be held on April 27, Reuters reported, citing an oil ministry statement. Last October Iraq passed a long-awaited oil and gas law, which will help the country attract more international investments into the hydrocarbon industry and boost government revenues.  Ali Metwally, an […]