CDG : CDG : Supporting the PSA Group in the establishment of a car factory in Morocco
On 19 June 2015 the Group CDG signed a memorandum of understanding with the PSA Group (Peugeot Citroën Automobiles) concerning the construction of a PSA factory in the export tax-free zone of Kenitra.
This agreement will result in the CDG Group receiving a shareholding via its affiliate Fipar-Holding in the company developing the project. The factory will involve the investment of 6 billion dirhams and create 4,500 direct and 20,000 indirect jobs. It will be built and run according to the most up-to-date standards. Its commissioning is planned for 2019 with a term target production capacity of 200,000 vehicles and 200,000 engines. The project also seeks the establishment of a line of research and development term for 1500 senior engineers and technicians in the automotive trades.
About Peugeot Citroën Automobiles
PSA Peugeot Citroën is a French automobile manufacturer making the automobile brands Peugeot and Citroën. In 2013, the company was in first place in France with 29% market share (30% in 2012) for its two brands combined. Group PSA Peugeot Citroën‘s sales reached €54 billion in 2014 and it is ranked among the top 10 world automakers.