German automaker Volkswagen AG has announced plans to invest Dh150 million ($12.7 million) in Morocco.
According to Morocco’s official news agency (MAP), the company has purchased a 43,270sq.m plot in the Tangiers Free Zone to build a plant to manufacture automobile electrical cables.
Construction of the plant is expected to start in July, and it is scheduled for completion in February 2002.
The project will generate 1,500 jobs, with production exclusively destined to European markets, MAP added – Albawaba.com
