Cable and optical fibre company Nexans will set up its third medium-voltage cable plant in Morocco, following two agreements on an investment project worth a total of 100 million euros by 2026.
This will include supporting the energy transition in Morocco and throughout Africa, alongside the creation of more than 200 direct jobs. The framework for this purpose was signed in Rabat, with the ministries of Industry and Commerce, Energy Transition and Sustainable Development, Investment, Convergence and Evaluation of Public Policies, as well as the National Office of Electricity and Drinking Water (ONEE) and the Moroccan Agency for Investment and Export Development (AMDIE).
According to a press release, the project is aimed at «consolidating the industrial ecosystem linked to the sector in the years to come», while developing the sector’s value chain and modernizing the local industrial fabric.
«This project bringing together public and private actors will, from its very start, bring together ecological and human commitments, unlocking significant economic potential for the entire African continent», Nexans CEO Christopher Guérin said.
Source : Yabiladi