The Chinese giant Norinco (China North Industries Corporation) is gaining a foothold in Morocco. This multi-business public group, known for being one of the leading players in the arms industry in the world, has just created a subsidiary based in Rabat.
This presence can be explained by the gradual implementation of the sustainable mobility solution project launched by EMOB in 2019 and whose launching into orbit was delayed due to the Covid-19 crisis. It must be said that this entity owned by the industrial group Imperium Holding (owned by the El Baroudi family) and which markets in Morocco the electric motorcycles of the Yadea brand (French specialist in the design of electric vehicles controlled by Norinco), is considering a rise in power from 2022 through a vast deployment program outside Marrakech, which now houses the first showroom.
A program which will be largely financed by the capital increase recently carried out and fully subscribed by the third partner of the EMOB project, namely the insurer Allianz Maroc, which now holds a third of the capital. This explains the effective establishment of Norinco in Morocco recently. But according to sources close to this group created in 1980 in Beijing, the latter aims to deploy other activities in Morocco in the medium term.
For the moment, nothing is filtering on the real short-term intentions of the Chinese group which employs more than 200,000 people around the world and achieves a worldwide turnover of more than 70 billion dollars (more than MAD 600 billion), but Norinco’s industrial appetite for Africa is not new. In 2018 (also the year of the first gestation of the EMOB project), the group launched an explosives and detonator production plant in Guinea with a capacity of 6,000 tonnes.