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RABAT (AFP) - Renault-Nissan signed an accord
Friday with the Moroccan government for what it
says will be one of its largest
automobile-making operations in the world, set
to be constructed near Tangiers.
"Renault-Nissan's Tangiers-Med
industrial complex, with an investment of 600
million euros (879 million dollars), will have a
capacity of 200,000 vehicles by 2010, which
should then double," said Christian Esteve,
director of Renault-Nissan for the
Euro-Mediterranean zone.
This project -- one of the largest industrial
centres geared towards exportation in the
kingdom -- is to be built on a 300-hectare
(740-acre) site in northern Morocco, linked by
road and rail to the Tangiers-Med port.
The factory is due to create almost 6,000
direct jobs and 30,000 indirect jobs, according
to a company statement issued in September when
the initial agreement was signed.
Six other contracts were signed in addition
to the current accord. These include agreements
with national railway and electricity companies
- the Office National des Chemins de Fer (ONCF)
and the Office National de l'Electricite (ONE) -
for putting in place new infrastructure for
communication and the transport of energy.
Renault is already present in Morocco with
its 80 percent subsidiary Somaca, which holds 30
percent of the Moroccan market.
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