Bombardier invests almost 2 billion DH.
21 November 2011
Read by 1777 persons
The world's 3rd largest aerospace manufacturer has just signed an agreement in Rabat
850 DIRECT JOBS AND 4,000 OTHER INDIRECT JOBS
The AMDI was one of the main negotiators
The policy of diversifying international partnerships led by Fathallah Sijilmassi is starting to pay off. Moreover, the AMDI was one of the main negotiators of the contract with the Canadian company Bombardier
The world's number 3 aerospace company has just signed a memorandum of investment agreement in Rabat. The agreement was co-signed by Salaheddine Mezouar, Ahmed Réda Chami and Guy Hachey, President and Chief Operating Officer of Bombardier Inc. The agreement concerns an ambitious industrial project for the manufacture of latest-generation components for the aerospace industry. Investment amount: 200 million dollars (almost 1.7 billion DH over 8 years), distributed between equipment, buildings and start-up costs. The Moroccan Agency for the Development of Investments (AMDI) was one of the main negotiators of this agreement, which is part of the Emergence pact.
The project aims for a power increase in terms of industrial technologies over 8 years. The investment should create 850 direct jobs and more than 4,000 indirect jobs. The final choice of the implementation site will be communicated later. But everything suggests that the project will be based in the integrated industrial platform of Nouaceur. An area dedicated to aeronautics.
For Bombardier management, the choice of this investment in Morocco was motivated by the competitiveness of production costs and the business environment, but also by the political and economic stability of the Kingdom. As a reminder, the president of the Canadian manufacturer had announced during the last Industry Meetings, held in May, the intention of his group to invest in Morocco. This will make it an industrial anchor point and a platform for the development of Bombardier's activities in the Euro-Mediterranean zone. The decision of Bombardier Aeronautics - whose turnover amounts to 17.7 billion dollars - comes in a difficult international context and economic situation. This investment also strengthens the Morocco industrial platform at a time when the Mena region is going through an unprecedented period of political and economic instability. According to concordant sources, Bombardier's choice strengthens the strategy of diversifying international partnerships led by the AMDI. Moreover, the Financial Times (via its magazine Foreign Direct Investment report) ranked Morocco 1st in Africa this summer in terms of attractiveness of foreign investment (ahead of South Africa, which came in 3rd position).
The investment development agency, let us remember, launched about two years ago, an offensive strategy towards investors from North America, Asia, the Gulf countries and the BRICs (Brazil, Russia, India and China). The European market also occupies a prominent place in this strategy. In the same vein, Fathallah Sijilmassi's Agency has just opened an office in New York. An office that also covers Canada. This is the fifth office in the world after those in Paris, Madrid, Rome and Frankfurt. Other offices are planned in London, in the Gulf countries and in Asia.
I. B. & A. R.
Leconomiste.com
Published on November 17, 2011.
Posted online on November 20, 2011.
850 DIRECT JOBS AND 4,000 OTHER INDIRECT JOBS
The AMDI was one of the main negotiators
The policy of diversifying international partnerships led by Fathallah Sijilmassi is starting to pay off. Moreover, the AMDI was one of the main negotiators of the contract with the Canadian company Bombardier
The world's number 3 aerospace company has just signed a memorandum of investment agreement in Rabat. The agreement was co-signed by Salaheddine Mezouar, Ahmed Réda Chami and Guy Hachey, President and Chief Operating Officer of Bombardier Inc. The agreement concerns an ambitious industrial project for the manufacture of latest-generation components for the aerospace industry. Investment amount: 200 million dollars (almost 1.7 billion DH over 8 years), distributed between equipment, buildings and start-up costs. The Moroccan Agency for the Development of Investments (AMDI) was one of the main negotiators of this agreement, which is part of the Emergence pact.
The project aims for a power increase in terms of industrial technologies over 8 years. The investment should create 850 direct jobs and more than 4,000 indirect jobs. The final choice of the implementation site will be communicated later. But everything suggests that the project will be based in the integrated industrial platform of Nouaceur. An area dedicated to aeronautics.
For Bombardier management, the choice of this investment in Morocco was motivated by the competitiveness of production costs and the business environment, but also by the political and economic stability of the Kingdom. As a reminder, the president of the Canadian manufacturer had announced during the last Industry Meetings, held in May, the intention of his group to invest in Morocco. This will make it an industrial anchor point and a platform for the development of Bombardier's activities in the Euro-Mediterranean zone. The decision of Bombardier Aeronautics - whose turnover amounts to 17.7 billion dollars - comes in a difficult international context and economic situation. This investment also strengthens the Morocco industrial platform at a time when the Mena region is going through an unprecedented period of political and economic instability. According to concordant sources, Bombardier's choice strengthens the strategy of diversifying international partnerships led by the AMDI. Moreover, the Financial Times (via its magazine Foreign Direct Investment report) ranked Morocco 1st in Africa this summer in terms of attractiveness of foreign investment (ahead of South Africa, which came in 3rd position).
The investment development agency, let us remember, launched about two years ago, an offensive strategy towards investors from North America, Asia, the Gulf countries and the BRICs (Brazil, Russia, India and China). The European market also occupies a prominent place in this strategy. In the same vein, Fathallah Sijilmassi's Agency has just opened an office in New York. An office that also covers Canada. This is the fifth office in the world after those in Paris, Madrid, Rome and Frankfurt. Other offices are planned in London, in the Gulf countries and in Asia.
I. B. & A. R.
Leconomiste.com
Published on November 17, 2011.
Posted online on November 20, 2011.
