• The PSA Group is organising a ceremony to present the progress on the Kenitra plant project.
• This industrial project will be completed in 2019 and will eventually produce 200,000 vehicles and 200,000 engines per year.

The PSA Group organised on Wednesday 15 june 2017, in the presence of Mr. Moulay Hafid Elalamy, Minister of Industry, Investment, Trade and the Digital Economy of the Kingdom of Morocco and Mr. Carlos Tavares, Chairman of the PSA Group Management Board, a visit to the construction site of the Group's plant in Kenitra.

Kenitra's PSA plant will produce engines and vehicles from 2019 covering the needs of the region and those of Moroccan customers with a production capacity of 200,000 vehicles and 200,000 engines per year.

"The project initiates a new transformation of the automotive sector: it will be accompanied by a significant increase in the sector's added value and a strengthening of the subcontractors' network" said Mr. Elalamy. "The highly positive benefits for the sector will also benefit the region: it serves the national ambition of ensuring a balanced and sustainable territorial development "he further added.

The Peugeot plant in Kenitra whose implementation requires an investment of 557 million euros will create 3,500 direct and 20,000 indirect jobs.

Carried out according to the memorandum of understanding signed on 19 June 2015 between the PSA group and the Kingdom of Morocco, under the effective Presidency of his Majesty the King Mohammed VI, PSA's industrial project is progressing at a sustained pace, according to the provisional schedule of planned actions and to the commitments of both parties.

PSA's industrial complex in Kenitra PSA benefits from the developing network of providers in Morocco, allowing a local integration rate of 60% at the start of the project and 80% subsequently, as provided for in the MOU. The performance of local automotive equipment suppliers will allow them to benefit from a very significant business growth. Assigned orders are in line with local sourcing objectives so far.

Group PSA also signed a cooperation agreement with "IFMIA" the network of Automobile Vocational Training Centres, which trains human resources in accordance with the requirements of the PSA group production standards. Other partnerships are being explored with the Office of Vocational Training and Job Promotion (OFPPT) and Moroccan universities.

Welcoming the excellent relations with Morocco, PSA Group stressed the fact that this great industrial project is progressing on schedule.

Carlos Tavares, Chairman of the Management Board of PSA declared: "this project, which receives the fullest support of Moroccan authorities, supports Africa Middle East region's goal of selling one million vehicles per year by 2025".