On 12th May, three investment agreements were signed for a total of over 110 million Euros.
The Chinese group Linuo Paradigma, a world leader in solar powered water heaters, announced investment of 100 million MAD in an industrial production unit. This factory will be able to produce 50 million solar powered water heaters a year for the Moroccan and international market.
The second contract was signed with Hareo Solar Energy, a Chinese company specialized in the production of solar panels. The company is expected to invest a total of 1.17 billion MAD in a factory to produce photovoltaic modules and cells.
Finally, the Sichuan Huatie Hi-Tech Construction Engineering group has also committed itself to investing in Morocco. It will construct an industrial unit specialized in manufacturing railway, automobile and aeronautic parts for the Moroccan and international market.
These three agreements came the day after a memorandum of understanding was signed to create a Chinese Industrial and Economic Cooperation Zone in Morocco.
Source: Usine nouvelle