PSA Group elects domicile in Morocco

Announced on 19th June 2015, the car manufacturer Peugeot-Citroën will be established in Kenitra, near the automotive suppliers.With an envelope of 6 billion Dirhams, this project will involve the construction of an assembly plant for cars and engines and will be operational from 2019.It will also allow the production of 200,000 vehicles and 200,000 engines per year, and the creation of 4,500 direct jobs and 20,000 indirect jobs.The plant, which will start construction at the beginning of 2016, will receive 95% of the financing from the PSA group, while the remaining 5% will be contributed by the Deposit and Management fund.Finally, the plant aims at an export turnover of 1 billion euros at term, as well as a local integration rate of 60% at start-up and 80% at term.