Shengtai Group's Ambitious Investment in Morocco
The Chinese conglomerate Shengtai is set to launch a significant industrial project in Morocco, having successfully completed all necessary procedures to obtain investment certification and registration approval from Chinese authorities. This milestone paves the way for the commencement of the "Shengtai Morocco Green Textile Industrial Park," which is poised to contribute significantly to Morocco's textile industry.
The total investment for this project is estimated at approximately 2.29 billion Moroccan dirhams, equivalent to around 1.716 billion Chinese yuan. This initiative is part of an investment agreement that Shengtai entered into with Morocco in March 2025, aiming to enhance the local textile production capabilities.
Economic Impact and Job Creation
The Shengtai project will focus on producing a variety of textile products, including high-quality cotton yarns, fabrics, and garments. The development will be facilitated through two manufacturing units, which will be established in the regions of Skhirat and Fez. The project involves acquiring a land area of approximately 34 hectares, along with the construction of production facilities and associated amenities, all expected to be completed within five years.
In terms of industrial output, the project aims to produce 100,000 spindles annually of high-quality cotton yarn, alongside 10,800 tons of dyed and finished fabrics, and 15 million meters of woven high-quality textiles. Additionally, the plan includes the manufacturing of 22 million clothing items each year, ensuring a comprehensive coverage of the textile production chain from spinning and weaving to dyeing and garment manufacturing. This integrated approach enhances the overall investment's coherence and potential for economic impact.
Moreover, the project is anticipated to have a substantial influence on the job market. According to the investment agreement, it is expected to create 7,000 direct jobs and an additional 1,500 indirect jobs, bringing the total number of anticipated employment opportunities to around 8,500. This significant job creation aligns with the growing trend of Chinese investments in Morocco's textile sector, reflecting a strategic expansion of China's economic footprint in the region.
Alongside the Shengtai initiative, another project named "Sunrise" has also emerged, which received an investment agreement worth 2.3 billion dirhams to establish manufacturing units in Skhirat and Fez. This parallel initiative is projected to generate similar job opportunities, demonstrating the increasing presence of Chinese investments in Morocco's textile industry, which is becoming a vital part of the local economy.
As reported by alalam24.press.ma.
