- A new box factory was inaugurated for 500 million dirhams in Atlantic Free Zone.
- And 300 million dirhams were injected into a new recycling factory.
Leader in packing products for agricultural and industrial sectors, GPC (Gharb Paper and Carton), subsidiary of Ynna Holding, marked a new growth milestone with the official inauguration, Tuesday November 21, 2017 in Kenitra, of two new installations representing an investment of 800 million dirhams.
The inauguration ceremony was held in the presence of Mr Moulay Hafid Elalamy, Minister of Industry, Investment, Trade and Digital Economy, Mr Aziz Rebbah, Minister for Energy, Mines and Sustainable Development, the Governor and Wali as well as Mrs Mama Tajmouati, CEO of Ynna Holding.
GPC's major investment concerns a paper and paperboard recycling factory, located on the road to Tangier, for an amount of 300 million dirhams, and a box factory, located in Atlantic Free Zone, for an amount of 500 million dirhams.
With an annual capacity production of 60,000 tons for the two units, the two plants cover a total area of 80,000 square meters and employ 500 people. They will contribute to reinforce the leadership of GPC in the paper and corrugated cardboard sector and support the Industrial Acceleration Plan, in which automobile production plays a major part in Kénitra and Tangier,
“GPC is making a major investment which will undoubtedly benefit from the vitality of the industrial sectors. The investment is fully in line with the Industrial Acceleration Plan vision and unfolds in a sector offering good development opportunities, brought about by companies’ specific and increasing needs in packaging, the new consumption patterns of Moroccans and the rise of mass distribution calling for intelligent packing”, declared Moulay Hafid Elalamy, Minister of Industry, Investment, Trade and the Digital Economy.
“This historic investment of over 800 million dirhams reflects the constant commitment of Ynna Holding to expand its subsidiaries and to bring added value to the local economy. With the two plants, we create employment and contribute to support the know-how and the economic development of Morocco, which is today the largest exporter of vehicles in Africa. We are very pleased to participate in this dynamic that is set to position the Kingdom as a major economic platform in the region," said Mama Tajmouati, CEO of Ynna Holding.
About Gharb paper and paperboard:
Created in 1990, GPC is a subsidiary company of Ynna Holding and the leader of the Moroccan market of corrugated cardboard packing, very much used in agriculture and industry. The company has more than 1,000 employees and owns 7 production sites in Kenitra, Agadir, Mohammedia and Meknes in addition to a collection centre for waste paper and cardboard in the great Casablanca area... Moreover, GPC owns 3 assembly plants for agricultural crates: a plant with over 20 machines in Ait Melloul, one with four machines in Mohammedia and another with four machines in Mejjat. GPC also installed 70 machines directly at customer’s plants to reduce logistics costs.