Jan 30th, 2008 by RJ Menezes
French auto giant Renault just signed the final papers that see the company investing $865 Million in the Kingdom of Morocco. The investment goes to new manufacturing facility that will enable the Mediterranean country to produce up to 200,000 vehicles per year by 2010.
The plant will be designed to build variations of cars off of the Renault Logan global compact platform. The plant will also produce a new generation of light commercial vehicles for Nissan.
The Tangier complex (as it will be called) will back up Renault’s existing production operations in Casablanca. Operated by SOMACA, which is jointly owned with PSA Peugeot Citroën, the plant builds the Renault Kangoo and the Logan sedan.
The Logan has been a best-seller in Morocco since its launch in 2005. Renault expects that with this investment they can get a foothold of the Mediterranean market before other companys get any stronger there. At $865 Million, they sure are showing commitment.