Speaking at the ceremony of laying the foundation stone, the Minister of Industry, Investment, Trade and Digital Economy, Moulay Hafid Elalamy, said that this new production unit of Hands Corporation , one of the five world leaders in manufacturing aluminum rims, will be established on an area of 23 ha and will create 1,300 direct jobs. Mr. Elalamy said that this important project will achieve a strong integration of the automotive value chain, emphasizing that it is the result of the establishment of a set of ecosystems as part of the Acceleration Plan. industrial, in accordance with the high royal instructions.
Referring to the figures recorded by the automotive sector, the minister said that Morocco has developed "a strong and resilient sector with a strong international position" in favor of the two car manufacturers Renault and PSA, stating that a production capacity of 650,000 vehicles per year, the majority of which is destined for export, in addition to the production of 200,000 engines by the PSA plant.
In addition, the automotive industry now exports more than 70 billion dirhams with a 50% integration rate that will go well beyond in the coming years, he said, announcing that Morocco aspires to achieve an export turnover of 100 MMDH by 2019.
"We are ahead of time on all criteria," said Elalamy, stressing, in this sense, the need to redraw a new roadmap with a much more ambitious goal.
For his part, the chairman of the Supervisory Board of the Tangier-Mediterranean Special Agency (TMSA), Fouad Brini, pointed out that this is the third largest project after those of Renault and PSA in terms of investment and the first plant of such a large size to be located at the zone level, noting that the industry is a reality in Morocco which has been confirmed by the quality of investments undertaken.
Thanks to the Tanger Med port platform and the Tanger Automotive City industrial zone, this new plant will have a production capacity of 8 million units per year, mainly for export worldwide, "added Mr. Brini, saying that with this project "we will become the world's third largest manufacturer of aluminum rims".
According to Hands Corporation president Seung Hyun Chang, "this eighth plant in Tangier will do its best to constantly create values like the word -infinity-", noting that the group's expansion in Morocco, Forty years of industrial and commercial experience, is part of its goal to become "the world's number 1". "Morocco is the best place in North Africa to develop the international activities of Hands Corporation," said the group's president, arguing that the Kingdom wants "a crossroads between Africa and Europe and has the best infrastructure region, but also a significant and growing automotive market.
Moreover, the strategic position of Morocco and its economic potential make Hands Corporation able to position itself as well on the local market as on the European and North-American markets, he added.
The Hands Corporation group has several production plants with a capacity of 13.5 million units a year and a research and development center in Korea and China. It supplies major automakers including Hyundai Motors, Renault, Ford and Volkswagen. In 2016, the group, with its 2,360 employees, generated an estimated turnover of 542 million euros.
During this ceremony, held in the presence of the governor of the province of Fahs-Anjra, Abdelkhaleq Merzouki, and the ambassador of South Korea in Rabat, Dongsil Park, an EPC contract (engineering-procurement-construction) was signed by President of Hands Corporation, Seung Hyun Chang, and the President of the General Society of Works of Morocco (SGTM), Ahmed Kabbaj, to delegate to the said company the turnkey construction of the plant over a period of two years, split into two parts.
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