Citic Dicastal, the world leader specializing in aluminum casting and the production of aluminum automotive parts, set up the second production plant for aluminum rims with a budget of 350 million euros.
The launching ceremony took place in Kenitra on December 26 with the presence of Kenitra Governor Foud M’Hamid, and Moulay Hafid Elalamy, Minister of Industry, Trade, and Green and Digital Economy. Xu Zuo, President of Citic Dicastal and Vice-President of Citic Group joined from Beijing through a video conference.
The Chinese group’s new plant in Kenitra aims to double production and produce six million rims to supply the French car manufacturing giant, PSA Group, while creating 1,250 jobs in the process.
Citic Dicastal’s plant will be equipped with advanced technology that will work on manufacturing products finished with premium paint, as well as a range of larger rims.
During the event, Elalamy took the opportunity to highlight the significance of the new investment and the resilience of the rising Moroccan automotive sector.
The minister said the investment showcases the continued confidence of world leaders and confirms Morocco’s position as a globally competitive country for production and export.
Citic Dicastal inaugurated its first African factory in the city of Kenitra in June 2019 as an industrial cooperation project between China and Morocco.
The alliance is part of China’s global development strategy “One Road, One Belt.” The program promotes Chinese investments in infrastructure across the world.
During the ceremony in June, the Elalamy stated that Citic Dicastal’s investment brings to Morocco a pioneering technological specialty and adds expertise and knowledge of strong technological value to support a competitive automotive industry.
Source: Jihad Dardar, moroccoworldnews.com