The Spanish textile company Settavex has signed with the Moroccan government an accord providing for Dh634 million (US$71.4 million) investment in the textile sector.
The accord will allow the group to boost its weaving capacity to 21 million linear meters per year and its finishing capacity to 26 million meters. The Spanish group, already set up in Settat (near Casablanca), is leader in the Moroccan market with a share of 45%.
According to MAP, the investment program, to be implemented in three years, also consists of the establishment of a new co-generation engine.
