Construction of car-cable plant in Tangiers to boost exports

Morocco's King Mohammed VI on Friday afternoon launched in the Tangiers export-free area the construction works of a car-cable plant by Japanese-multinational "Yazaki."

With an investment of $ 20 million, the plant to be completed in June 2001 is expected to provide jobs to 1,500 persons. Yazaki-Maroc will be producing vehicles for 200,000 vehicles annually. Its output is exclusively destined for exportation.

Yazaki's first ever project in Africa will be based in Tangiers export-free area where over 100 companies have already bought land plots to conduct projects for an estimated $136 million in investments and 60,000 jobs created.

The exports-free area, extending over 345 hectares, offers a special customs and taxation system. Located 10 km south of Tangiers, the area will cost $ 60 million.