South Korean wheel manufacturer, Hands Corporation, will soon operate a factory worth 4.33 billion dirhams ($472 million) in Tangier. A ceremony marking the launch of construction works of the new plant was attended by Morocco’s Industry and Investment Minister Moulay Hafid Elalamy who said that the 23 hectare-factory will create 1300 direct jobs and will help strengthen the value chain of Morocco’s car industry. For his part, President of the Tangier-Mediterranean Special Agency (TMSA) Fouad Brini said Hand Corporation investment will build the factory on the Tangier’s port and automotive industry infrastructure to produce 8 million units annually. On the same occasion, President of Hands Corporation, Seung Hyun Chang, said “Morocco is the best location in North Africa to develop international activities”. In 2016, Hands Corporation posted a turnover of €542 million.

Source: The North Africa Journal April 11, 2018 12:00 UTC