Major Investment in Moroccan Textile Industry
The Chinese textile manufacturer Shengtai has officially received approval for a significant investment project in Morocco, valued at $230 million. This initiative is set to establish a large industrial park, which aims to enhance Morocco's textile manufacturing capabilities. The project has been authorized by Hunan Province in China, which has granted Shengtai a Certificate of Overseas Investment for Enterprises along with a Notice of Filing for Overseas Investment Projects.
The planned industrial park will occupy an expansive area of approximately 34 hectares, strategically located between the cities of Fez and Skhirat. Upon its full operational launch, the facility is projected to generate a remarkable output of 100,000 spindles of cotton yarn, 10,800 tonnes of dyed fabrics, 15 million metres of woven fabrics, and 22 million garments annually. This ambitious undertaking not only aims to bolster the production capacity of the region but is also expected to create around 7,000 direct jobs, alongside an additional 1,500 indirect employment opportunities. The construction of the park is slated to occur in phases over the next five years, marking a significant step forward in Morocco's textile sector.
As reported by ecotextile.com.
