Investment of $ 644 million in Moroccan cement sector

Moroccan Prime Minister Driss Jettou chaired Tuesday the signing of three conventions providing for an investment of MAD 5.8 billion (USD 644 Mn) in the cement sector.

The conventions aim at creating a competitive cement sector and at meeting the needs of the country in terms of infrastructures and housing as the government projects to build 100,000 low-cost houses per year.

Jettou explained that this move is important for Morocco where vast projects have been launched, saying the increase of cement production will prevent the country from becoming an importer of cement by 2007.

The investment projects, to be carried out by the companies "Holcim Maroc," "Ciments du Maroc" and "Lafarge ciments," will create 270 direct jobs.

Under the convention signed with "Holcim Maroc," a new cement plant will be built in Settat (157 km south of Rabat). Moreover, the company will modernize and extend its activities in Nador, Oujda and Fez.

The convention signed with "Ciments du Maroc" aims at investing MAD 1.6 billion (USD 177 million) to set up a new line of calcining in Agadir (central Morocco) and to modernize the existing industrial units in the cities of Agadir, Marrakech and Safi.

The group aspires to meet the demand of export in west Africa and to accompany the growth of the market.

On its part, "Lafarge ciments" will invest MAD 1.47 billion (USD 163 million) to extend and upgrade Bouskoura plant (south of Casablanca), to modernize its equipments in Tangier and Fez and to develop other activities.

The Moroccan premier also presided over on Tuesday a ceremony to launch a new production phase in the cement plant "Asment Temara." The plant will increase its production capacity to 1,200,000 tons a year, compared to 840,000 in 2000.