Italian group to invest in Moroccan textile sector
The Italian group Ledger, a leader in the textile market in Italy, will establish an integrated industrial compound made of two plants for weaving and spinning near Rabat. The agreement was signed on Tuesday between the Italian group and the Moroccan Government.
The 600 million Dirhams (US$ 66,5 million) investment to be carried out in partnership with the Moroccan Senoussi group, will allow the creation of 800 direct jobs in textile industry.
According to MAP, Moroccan Prime Minister, Driss Jettou, who presided over the signing ceremony, hailed the project’s contribution to the Moroccan textile sector, which is expected to open to more opportunities tfollowing the recent signing of the Morocco-US free trade agreement.
Speaking at the ceremony, the owner of the Italian group, Edoardo Polli, said the choice of Morocco for this project is motivated by Morocco’s stability, its proximity to Europe and its openness to the USA, namely through the initialled FTA agreement.
Under the agreement, a plant of denim fabrics, used in manufacturing jeans, will be established in Skhirat, 20 km south of Rabat, with a production capacity of 24 million meters per year, as well as a spinning unit, with a capacity of 9.000 tons per year.
© 2004 Mena Report (www.menareport.com)
- Tunisia issues tender for acquisition of textile firm Somotex Internationale
- More than $300 million investment in Moroccan textile sector
- Job opportunities in Moroccan textile sector down
- Spanish textile company invests in Moroccan textile sector
- Italian group to invest in Iranian food processing sector