Mrs. Nadia FETTAH, Minister of Economy and Finance, took part, Friday, March 29, 2024, in the signing ceremony of the Investment Agreement with the BTR Group.
The ceremony, presided over by the Head of Government, was attended by members of the Government of the Kingdom of Morocco, senior executives of the Chinese BTR Group, the Ambassador of the People's Republic of China to Morocco, and other General Managers of partner establishments.
Founded in 2000, BTR is one of the world's leading suppliers of materials (anodes and cathodes) for lithium-ion batteries. The investment agreement signed concerns a cathode manufacturing plant with an installed capacity of 50,000 tonnes per year. With an investment of over 3 billion dirhams, the production unit will be based at the Cité Mohammed VI Tanger-Tech. It will contribute to the creation of 2,448 jobs, including 504 direct jobs by 2027.
In her speech, Mrs. Nadia FETTAH, Minister of Economy and Finance, recalled that this project gives substance to the vision of His Majesty King Mohamed VI, May God Assist Him, on a triptych essential to the Kingdom's economic and social development.
Firstly, the project will be based at the Cité Mohamed VI Tanger Tech, which His Majesty had in mind following his meeting in May 2016 with His Excellency President Xi Jinping. This program was conceived as a Gov2Gov project supported by state-owned enterprises on both sides, and designed to bring about a win-win economic rapprochement between Morocco and China as part of the One Belt-One Road initiative.
Secondly, this project benefits from the strategic nature of the New Investment Charter, a framework which, on the instructions of His Majesty, is intended to be resolutely attractive and efficient, and geared towards job creation.
Thirdly, this project confirms Morocco's position in the ongoing reorganization of the automotive industry around electric vehicles and clean energies, and consolidates the industrial emergence that His Majesty has sought since the beginning of his reign, and which has made the Kingdom the continental leader in the automotive sector in just twenty years.