Daewoo to produce 100,000 cars, one million TV sets in Morocco

Crown Prince Sidi Mohamed launched Thursday in Nouaceur, region of Casablanca, construction work on the Daewoo industrial compound "Daewoo Maghreb."

A Moroccan official source said the Daewoo group has injected a total of $400 million into the project, which will provide permanent jobs to 5,700 persons and develop Moroccan exports. Morocco's minister of transports and merchant navy assured the South Korean businessmen of the government's support to carrying out the project.

The industrial compound, extending over 80 ha, will comprise a plant to manufacture electronic devices and a car-making unit. The two units will produce annually 100,000 passenger and utility cars, one million TV sets and other products, Map reported.

Daewoo is also planning to build plants for the manufacture of components and spare parts needed for the making of cars and electronic devices.

The Daewoo group committed in October 1997 to investing $500 million in Morocco.