Portugal’s Simoldes to Establish 70mln Dollar Plant in Morocco
Portugal’s leading mold making company, Simoldes, is on course to launching construction works for its 70 million-dollar industrial plastics processing complex in Morocco to supply automakers in North Africa and beyond.
The new plant will stretch over a surface area of 10 hectares with a potential to employ 3000 people.
The complex will be producing injection molds along with injection molded exterior and interior vehicle components.
Morocco was chosen by the Portuguese company in light of its investment incentives and the existence of car industry ecosystems where leading French automakers, such as Renault and Peugeot-PSA operate.
Besides Simoldes, other leading car part makers will set up plants in Morocco. Canada’s Linamar Corp will build a 2.7 billion dirhams ($280 million) plant in Morocco to make engine parts.
U.S. auto parts maker Delphi will also launch a new factory making electrical distribution systems and a research and development center in the North African kingdom.
Morocco expects auto industry exports to reach an annual 100 billion dirhams ($10.2 billion) by 2020.