Citic Deka opens second aluminium wheel factory in Morocco

SMM11, March 28-China CITIC Deka Co., Ltd. Citic Dicastal opened a second aluminum wheel factory in the Moroccan city of Kenitra on Monday. The company invested 350 million euros and built a project of 30, 000 square meters, which aims to create more than 1200 jobs.

Moroccan Minister of Trade and Industry Moulay Hafid Elalamy said that the factory will bring Morocco to the high-tech industry, can promote the accelerated development of the country's industry, is also a model of successful cooperation between Morocco and China in the industrial sector, is part of the Chinese government's Belt and Road.

It is reported that Citic Deka Co., Ltd. in Morocco's first factory has begun operation. The project costs about $400m and produces 6 million units a year.

Citic Deka has factories in Europe, North America and China. It supplies parts to major car companies such as Volkswagen, BMW, Renault Nissan, Fiat, Chrysler, Peugeot, Toyota and Audi.

Morocco, a North African garden, has introduced visa-free access to China, which has not only brought considerable consumption because of the influx of tourists, but also opened the door for Chinese enterprises to go out. Morocco, which is located in Africa but has European ancestry, is currently in a period of economic recovery after the economic crisis and the Arab Spring. Compared with other African countries, Morocco has political stability and rapid economic development. At the same time, it has introduced a series of attractive investment incentives, which provides a depression for Chinese enterprises to invest.

Moroccan Minister of Energy, Mines and Sustainable Development Aziz Rabbah has said that development plans in the energy sector will require nearly $40 billion in investment by 2030. Among them, there is a lot of room for cooperation with Chinese enterprises.

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