Korean company SEOIL Corporation, specializing in manufacturing drinking straws, inaugurated on Thursday a factory at the LOGINTEK industrial and logistics zone in Settat province, central Morocco.
The new industrial facility, the group’s first in Africa and the ninth worldwide, reflects foreign investors’ trust in Morocco’s industry potential and its attractiveness as a strategic platform connecting African, European and international markets.
Speaking on the occasion, SEOIL CEO Kim Kyung Tae said the investment is part of a long-term vision based on the group’s trust in Moroccan competencies, industrial strengths and strategic geographical location.
He noted that the new facility would enable the group to strengthen its presence in international markets while promoting knowledge transfer and developing local skills through training programs and exchanges with SEOIL’s other production sites.
For his part, the Director General of Industry at the Ministry of Industry and Trade, Youssef Fadil, said the Korean group’s decision to invest in Morocco confirms the attractiveness of the country’s industrial platform and its capacity to attract international investments that generate added value.
He added that the project, which resulted from economic outreach efforts in Korea, is part of the industrial momentum driven under the leadership of King Mohammed VI. He also highlighted the Kingdom’s modern infrastructure and favorable business climate.
Covering an area of 24,790 square meters, SEOIL Morocco Corporation’s factory will have an annual production capacity of six billion straws, including three billion paper straws and three billion made from polypropylene and biodegradable materials. Some 95% of output will be destined for export.
The facility also incorporates systems designed to optimize resource consumption, including water recycling systems and energy-efficient equipment, while a solar photovoltaic panel installation project is also planned.
Founded in Korea in 1979, SEOIL Corporation supplies more than 50 billion straws annually to customers in over 110 countries. The opening of its factory in Settat marks a new milestone in the company’s international expansion and in strengthening industrial cooperation between Morocco and Korea.
Samir Filali Chahad, CEO of ZINAFRIK Développement, the developer behind the LOGINTEK project, told the press that the first phase of the industrial and logistics zone has reached a commercialization rate of 92%, and that a second phase is set to be launched soon to accommodate new industrial facilities.