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The start of the production of Citic Dicastal plant in Kenitra, specialized in the production of aluminum rims, will be, as planned, before the end of 2019, said the group’s president.
During talks on Thursday in Rabat, with the Minister of Industry, Investment, Trade and Digital Economy, Moulay Hafid Elalamy, in the presence of the chairman of Citic Group Corporation, the chairman of Citic Dicastal, subsidiary of Citic, said that “the project is deployed in accordance with the projected schedule of implementation and that the start of production will be, as expected, before the end of the year 2019”.
This project, which was the subject of a memorandum of understanding signed in December 2017, under the effective presidency of King Mohammed VI, requires an investment of 350 million euros and will allow the creation of 1,200 jobs, says the minister, adding that production with an annual capacity of 6 million pieces will be destined mainly for export.
In addition to the progress of the ongoing construction project of the Dicastal Group plant, the talks also focused on the development prospects of Citic’s activities in Morocco, he said, adding that given the quality the industrial partnership between the Kingdom and Citic Group Corporation, these prospects are very promising, especially in the foundry sector for the manufacture of parts of chassis and engines.
