The French car manufacturer PSA Group inaugurated on Thursday a production plant near Morocco’s northern coastal city of Kenitra, the Moroccan government said.
“This is the first PSA industrial complex in Morocco and is based on the creation of a complete automotive ecosystem,” Jean-Christophe Quemard, vice president of PSA for the Middle East and North Africa region, told reporters.
With an investment of 560 million euros (632 million U.S. dollars), this plant plans to produce 200,000 car engines and 100,000 cars per year by 2020, he said.
The group expects that 90 percent of the plant’s products will be exported, especially to the rest of Africa and the Middle East.
This is Morocco’s third automobile production plant. French Renault operates a plant in Casablanca, which manufactures 80,000 cars annually, and another site in the northern city of Tangier which has an annual production of 340,000 cars.